#分享美股交易赢英伟达股票

Last night, the U.S. stock market's AI trading completely collapsed! Has the tech bull market come to an end?

Last night and this morning, the U.S. AI (artificial intelligence) trading frenzy rapidly cooled down, with large tech stocks, chip, and optical communication concept stocks all experiencing fierce sell-offs. The Philadelphia Semiconductor Index plummeted over 10%, wiping out more than $1 trillion in market value in a single day—the worst single-day decline since March 2020; the Nasdaq dropped over 1,100 points, down more than 4%.

In-depth analysis of the crash reasons:

1. The “spark” triggering the tech stock collapse was the unexpectedly strong U.S. May non-farm employment data. Some analysts pointed out that this employment report dispelled market expectations of Fed rate cuts and pushed rate hike expectations to the forefront. Concerns over the Fed raising interest rates this year caused U.S. Treasury yields to soar and the dollar to rally sharply, exerting broad pressure on risk assets.

2. AI stocks’ earnings guidance fell short of expectations, triggering profit-taking: Although Broadcom’s earnings report overall met expectations, its AI business guidance was below market forecasts. The company did not raise its 2027 fiscal year AI revenue target, and its AI chip sales outlook for this fiscal year was also below analyst consensus. Previously, Broadcom’s stock had risen nearly 40% year-to-date, with market expectations already high. The disappointing guidance directly triggered a wave of profit-taking, leading to a sell-off across the entire AI sector.

3. Overcrowded sector, valuation correction pressure released: The AI and semiconductor sectors experienced nine consecutive weeks of record-breaking gains, reaching extremely overbought levels with very high positioning and valuations at lofty levels. This macro outlook shift became the trigger, causing a large-scale correction—a re-pricing of the overly crowded AI theme.

4. Additional geopolitical pressure: The situation in the Middle East did not develop as expected, reducing market hopes for the resumption of Strait of Hormuz navigation. Concerns about rising energy prices fueling persistent inflation further intensified market fears of rate hikes.

Will the tech bull market continue? Can AI be bottom-fished?

Amid the sharp decline in U.S. stocks, President Trump spoke on Air Force One, expressing hope for rate cuts but leaving the decision to the Federal Reserve Chair Powell. Trump also mentioned that the U.S. is in good shape, and the market should rise.

Additionally, Wells Fargo analysts stated: “Today’s market reaction is more driven by positioning factors rather than fundamentals. The semiconductor sector was already extremely overbought, so a correction is not surprising. I don’t think this means the end of the semiconductor bull market.” Of course, an important point is that, with epic giants like SpaceX going public, Wall Street is unlikely to fully ignite an AI bubble at this moment.

The little finance guy believes that last night’s decline is more of a correction of previous excessive gains and a market cleanup of concerns over overly high AI stock prices. The overall growth of the AI industry remains on track, with FY2026 AI revenue still expected to grow about 180% year-over-year. Many tech giants’ AI orders are still steadily progressing, and the core growth logic remains unchanged. Therefore, this dip can be seen as a buying opportunity—after all, “black swan” events and “Black Friday” have become the norm for this year’s economy, so it’s nothing new. Just like Bitcoin, most people are engaging in left-side trading when bottom-fishing now, mainly focusing on spot buying and avoiding reckless leverage.

Do you think the U.S. stock market has bottomed out? How do you feel about last night’s big drop? Let’s chat in the comments!