**Chip stocks** have fallen for **6 straight days**, the longest losing streak in **over 17 months**.

**The SOX** is down **12%**, wiping out **$1.6T** in market value.

There's pressure from every direction:
 **Higher rates**

 **Stretched valuations**

 The soaring cost of building **AI**

 **JPM** says dip-buyers have gone missing

If this is the dip nobody buys, what happens next?

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