Apple-led chipflation and OpenAI IPO postponement... Semiconductor sharp drop, S/W sharp rebound

Summary

Curator Park Myung-suk reviews a week where Apple’s price hikes and OpenAI’s IPO delay sparked a sharp semiconductor sell-off and a software rebound. He argues the June decline is mostly rotation and profit-taking, not the start of a bear market, and points to falling oil, easing inflation expectations, and historical patterns to expect a July equity rally. AI demand remains the core driver, supporting semiconductors as a buy-on-weakness opportunity, while software and cybersecurity are benefiting from AI tailwinds. Geopolitical noise around Iran briefly rattled markets but was largely resolved by the session open.

• June sell-off driven by rebalancing and profit-taking, not a structural bear market.
• OpenAI postpones IPO to 2027, adding to negative tech sentiment.
• Apple’s price increases spark 'chipflation' fears, weighing on semiconductor stocks.
• Strong AI demand and GPU shortages continue to justify semiconductor capex.
• Software and cybersecurity sectors rebound as AI tailwinds strengthen.
• Historical seasonality and declining inflation expectations point to a July equity bounce.
• US-Iran tensions flared over the weekend but de-escalated before Monday’s open.
• Rotation into healthcare and small/mid-caps highlights a broadening market.