Alex Giuliano of Resonate Wealth Partners and Jay Pelosky of TPW Advisory argue that the recent semiconductor sell-off is a fake-out that creates an opportunity. They say investors doubt the sustainability of AI earnings, leaving chip and memory stocks at very low forward P/E multiples: South Korea's market trades near an all-time low of about five times forward earnings, and Nvidia's forward P/E is at a 10-year low. They point to strong short-term GPU rental demand and ASML's comments that it cannot keep up with demand through 2028, expecting demand to stay robust for several years. They see AI as early, with the agentic AI economy just beginning and the physical AI economy not yet started. They say upcoming earnings from SpaceX and big hyperscalers will test whether investors start trusting the earnings outlook.
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valuationsemiconductorsNVDAQQQ
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/27/2026 | 217.88 |
| Change that session | +0.87% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/27/2026 | 721.23 |
| Change that session | +1.27% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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