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Fitch warned that an artificial intelligence market correction poses major global credit risks, with tech valuations approaching dotcom boom levels and AI spending potentially running ahead of uncertain returns.
Semiconductor stocks suffered renewed losses amid concerns about rising competition and circular financing, while oil prices declined below $90 per barrel.
Intel exceeded Q2 earnings expectations with strong revenue growth and positive free cash flow, leading analysts to raise 2027 revenue forecasts and target prices for the stock.
Taiwan Semiconductor Manufacturing Co. reported a 67.9% year-on-year increase in June revenue, with first-half 2026 sales reaching 2.4 trillion new Taiwan dollars.
IBM lowered its 2026 revenue growth forecast to 4-5% in constant currency, down from prior guidance exceeding 5%, after reporting earnings that missed analyst expectations on Wednesday.
Eli Lilly announced it will seek regulatory approval for its obesity drug retatrutide in the first quarter of 2027 after succeeding in two additional late-stage clinical trials.
