There was nowhere to hide in our AI Infrastructure basket yesterday, with every stock closing lower. Teradyne (TER) led the declines with a 13.3% drop, followed by Lattice Semiconductor (LSCC) at 11.1%. Even the basket's best performer, Qualcomm (QCOM), fell 1%.
Every stock finished in the red, and even worse, 57.1% of the basket fell more than 5%. Only nine days since the start of 2023 have seen a larger share decline more than 5%, with the highest reading coming on 4/3/25 at 92.6%. These broad selloffs have become more common in recent months. Since June, there have been six days (including yesterday) when more than half the basket's components fell more than 5%.
Days when every stock in the basket declines have also become more frequent. There have been seven of these “all down” days over the last three months, just one shy of the peak of eight in spring 2025. For comparison, the rolling three-month count never exceeded three during 2023 or 2024 and briefly fell to zero last fall. It’s now back near its high, meaning investors tracking our AI Infrastructure Basket have seen both more days of widespread losses exceeding 5% and more sessions when not a single stock managed a gain.
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