Swissquote analyst Ipek Ozkardeskaya said Taiwan Semiconductor’s upward revision
to capex expectations may have sparked market concern and contributed to the
recent tech-sector sell-off. She noted TSMC’s Q2 profit reached a record but the
stock did not rally, implying investors see chip valuations as rich.
Ozkardeskaya warned investors are increasingly uneasy about overcapacity risk
and large-scale AI buildouts even as tech firms keep spending. Upcoming US
mega-cap earnings next week could ease weak sentiment, but signs Alphabet and
peers are further increasing infrastructure spend may add downside pressure on
sector stocks.
