If you hold U.S. tech stocks, the recent market action hasn’t been pretty.
For the second straight day, tech giants weighed on Wall Street, with the Nasdaq Composite slipping 0.67%. Big names like Apple, Amazon, and Alphabet each fell by more than 1%.
Palantir, which has surged more than 100% this year, also extended its losing streak to a sixth day, dropping out of the list of the top 20 most valuable U.S. companies. The sell-off followed criticism from Citron Research, which argued Palantir’s valuation was out of touch with fundamentals.
Still, there wasn’t a clear single reason for the broader dip. Some point to OpenAI’s Sam Altman warning about a potential AI bubble, though bullish analysts like Dan Ives expect tech momentum to last another 2–3 years. Others believe investors are simply locking in gains after a strong rally, with some stocks up over 80% since April.
In other words, this may be less about panic and more about portfolios, and summer profit-taking before another wave of growth.
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Source: Yeo Boon Ping, CNBC
