This week's top 5 stocks users are most concerned about: AI valuation reassessment intensifies, Apple and Microsoft buck the trend, chip chain under pressure.

November 6 — This week, US tech trading shifted from "earnings validation" to "re-evaluation of valuation and return on investment." Apple and Microsoft supported their share prices with performance and cloud demand, but uncertainties simultaneously intensified around AI infrastructure capital expenditures, data center regulation, and export restrictions to China, significantly amplifying pressure across the chip supply chain. As of the November 5 close, the S&P 500 fell 3% this week and the Nasdaq dropped 4.4%. The market has not moved away from the AI mainline; rather, it is more strictly distinguishing between earnings delivery, supply visibility, and investment returns.

Apple (up 1.73% for the week): Quarterly revenue grew 12% year-over-year, beating expectations, with the consumer electronics base still resilient; however, the company expects holiday-season gross margin to fall to 45% to 46%, with memory price increases and service costs from the Siri AI rollout becoming new pressures. The market recognizes the earnings, but whether AI investment can translate into profit remains to be seen.

Microsoft (up 5.68% for the week): FY27 first-quarter revenue grew 19%, Azure grew 48%, and cloud business demand continued to deliver; against the backdrop of rising data center construction and regulatory scrutiny, the stock's strength reflects that capital is still willing to pay for certain cloud growth, with the focus shifting to capital expenditure efficiency.

Nvidia (down 10.13% for the week): About 600,000 advanced AI chips are stranded in Hong Kong awaiting approval to enter the Chinese market, adding further variables to the China sales outlook; although CUDA 13.5 has provided official support for Vera Rubin, technological iteration has not yet offset concerns over exports and demand visibility.

SK Hynix (down 23.10% for the week): The US has not yet granted the equipment license required for expanding production at its Dalian plant, leaving the company's plan to use its China operations to support a new NAND plant in New York facing more uncertainty; policy risk combined with a pullback in AI risk appetite has intensified high-level volatility in the memory chain.

Intel (down 12.87% for the week): The release of 14A PDK 0.9 is an important milestone for its foundry business toward customer design adoption and mass-production preparation; however, the market is still waiting for substantive validation of performance, yield, and PDK 1.0 progress, and technological milestones are not yet sufficient to dispel transformation execution and cost pressures.