The article highlights a large, specific, newly announced Apple-related chip deal that is directly tied to Broadcom’s revenue outlook and is already driving an outsized positive move.
LIVE Tech stocks live: Tech stocks buffeted by AI bubble concerns, dip-buying Yahoo Finance Updated Wed, July 8, 2026 at 6:46 PM GMT+2 1 min read ^IXIC AVGO AAPL 005930. KS 000660. KS Tech stocks were volatile on Wednesday as renewed US-Iran tensions and a debate over a potential artificial intelligence bubble pressured the sector.
The Nasdaq Composite ( ^IXIC ) fell 0. 8%, led by a decline in software stocks. AI memory chip stocks extended losses on Wednesday after selling off the day before.
A Reuters report that China's DeepSeek is developing its own artificial intelligence chip weighed on the sector, as did concerns about sustaining AI demand, despite Samsung's impressive quarterly results. Broadcom ( AVGO ), however, jumped over 4% after inking a multiyear, $30 billion chip deal with Apple ( AAPL ). The company will design and produce custom silicon and other components for Apple products as part of the iPhone maker's push to shore up its US manufacturing program.
The chip trade will get another catalyst this week, as Samsung rival SK Hynix ( 000660. KS ) is scheduled to begin selling American depositary receipts (ADRs) soon, launching a US listing for the world's top supplier of high-bandwidth memory. In other notable movers, SpaceX ( SPCX ) stock dipped below its IPO opening price after joining the Nasdaq-100 index .
SpaceX's fast-tracked inclusion in the index required mutual funds and exchange-traded funds that track it, such as Invesco's QQQ ( QQQ ), to buy the stock.
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