The Market Lost Its Mind, But You Shouldn't

The Nasdaq inches forward into the dreaded correction territory as AI value chain leaders and semiconductors experience significant sell-offs amidst a profit-taking phase. Semiconductors show robust free cash flow versus hyperscalers, with memory giants SK hynix, Samsung, and Micron maintaining dominance despite concerns over China's CXMT IPO. AI infrastructure demand remains strong amid circular financing fears, highlighted by Nvidia's $250B OpenAI backstop and AMD's 500 MW Core Scientific deal. Market caution persists amid Fed hawkishness and geopolitical risks, but I view the current selloff as a chance to accumulate high-quality tech stocks rather than reduce exposure.