AI Trade Drives Market to Record Highs Amid Middle East Tensions
The AI trade has driven the market to record highs despite ongoing tensions in the Middle East. Tech stocks, including those of major 'Magnificent Seven' companies, have surged significantly, with the iShares Semiconductor ETF (SOXX) rising over 30% since March 30. The tech sector's strong margins have allowed it to absorb increased commodity costs linked to chip and server production.
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Topics: AI trade market performance Middle East tensions semiconductor industry supply chain resilience tech sector