The US stocks tech sector has fallen recently, and the Philadelphia Semiconductor Index has already slipped into a technical bear market.
During the drop, all kinds of bearish charts have started popping up—like the new one below:
Latest Bank of America forecast: the cash flows held by AI giants (Microsoft
$MSFT, Google
$GOOG , Amazon
$AMZN, Meta
$META ) will be $191 billion in 2025, $19 billion in 2026, and then turn to negative $26 billion by 2027.
Over two years, the cash flow gradually gets burned through, indicating that capital expenditures for AI infrastructure have grown too fast—spend