The broader market has been in a mood lately, and it's not subtle. Semiconductors have led a sharp rotation lower.
Micron Technology (NASDAQ: MU) has shed a third of its value in two weeks, and even the Space Exploration Technologies Corp. (NASDAQ: SPCX) IPO story that had everyone dreaming about space-based data centers has cooled off since shares priced above their offering range. Sentiment has swung hard against anything pre-revenue and speculative, and the sell-off has been broad enough that even strong long-term narratives are getting caught in the downdraft.
