Meta and chip stocks decline as AI business comes under pressure: AlphaCheck

Good morning. Stocks fell Thursday as semiconductor names fell, with AI trading ending following quarterly results from Meta (META) and Tesla (TSLA).

Shares of the electric vehicle maker recovered their initial losses while Meta fell 6%.

The Technology sector (XLK) fell, led by chipmakers like Nvidia (NVDA) and AMD (AMD). Memory makers Micron (MU) and SK Hynix (SKHY) also fell as the chip sector reversed Wednesday’s gains.

Shares of wafer equipment maker Lam Research (LRCX) fell as much as 10% after management highlighted “supply chain constraints” heading into 2027.

Here’s a check of the markets during the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.

Brent crude oil futures (BZ=F) jumped to a five-month high of $112 a barrel, while WTI (CL=F) traded near $100 after news of possible U.S. and Israeli attacks on Iran following the November midterm elections.

Here are some other notable stocks Yahoo Finance readers are checking out this morning: IBM (IBM), Lockheed Martin (LMT) and Procter & Gamble (PG).

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