AI Surge Has Ended: All 7 AI Stock Categories Declined This Week

Photo by Steve Johnson on Unsplash

An Introduction

I mentioned in my article last week that the increase in the number of categories declining period after period (no category went down in February, 3 went down in March, 6 went down last week and ALL 7 went down this week) clearly indicated that "the surge in the AI sector is stalling or perhaps even over". This week's category performances affirms that the surge that began back on October 31st is, indeed, over. The Global X Artificial Intelligence & Technology ETF (AIQ) of 91 constituents - which best reflects the AI sector as a whole - seconds that fact having gone up 8.4% in February, just up 2.0% in March, down 0.1% last week, and now down 1.6% this week.

7 AI Categories Compared

Below is how each category performed, in descending order:

  • this week,
  • YTD to provide a short-term trend in each category,
  • along with a description of what makes up each category,
  • the stocks included in each category,
  • those stocks in each category that went up the most during the week, and the least
  • and commentary on those stocks that made significant moves this week, where available.
  1. Semiconductor (Chip) Category: down 0.7% this week; up 23.8% YTD
  2. Cybersecurity Software Category: down 1.2% this week; up 1.2% YTD
  3. Cloud Computing SaaS Category: down 1.7% this week; up 22.9% YTD
  4. Custom Design EDA Software Category: down 2.3% this week; up 4.1% YTD
  5. AI-Powered Drug Discovery Category: down 2.9% this week; down 17.7% YTD
  6. Quantum Computing Category: down 3.5% this week; up 2.4% YTD
  7. AI-enabled Personal Computer Category: down 9.5% this week; up 8.4% YTD

The above analysis covers 56 different stocks of which 47 (84%) went down in price last week, revealing that the decline is widespread.

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Disclosure: None

This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed. ...

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