The Nasdaq Composite is down more than 4% on Thursday as we write this. Stocks tied to the artificial intelligence (AI) trade, especially chipmakers and data center names, are sliding for a second day, both here and in Asia. Qualcomm (NASDAQ:QCOM) has fallen sharply after its smartphone chip sales came in below expectations. Arm Holdings (NASDAQ:ARM) is lower despite reporting record revenue, and Micron Technology (NASDAQ:MU) is adding to Wednesday's 7% drop. The Nasdaq is still below its record close on Oct. 6. And if you own AI-linked stocks, including many we've recommended, this week alone may have felt like whiplash. Monday brought another drop. On Tuesday night, stock futures fell as election results came in. Wednesday brought relief. This morning, the red is back.
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