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Wall Street Just Sold Off These IT-Services Stocks on AI Fears. Is the Sell-Off Overdone?
Key takeaways
- ACN EPAM NVDA Shares of Accenture (NYSE: ACN) cratered about 18% on June 18 -- the consulting giant s worst single-day drop on record.
- EPAM Systems (NYSE: EPAM) slid about 9% the same day without reporting anything of its own.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
ACN EPAM NVDA Shares of Accenture (NYSE: ACN) cratered about 18% on June 18 -- the consulting giant s worst single-day drop on record. What spooked investors wasn t the quarter. It was the outlook, and the fear behind it.
And Accenture didn t fall alone. EPAM Systems (NYSE: EPAM) slid about 9% the same day without reporting anything of its own. The worry driving this sell-off? The risk of artificial intelligence (AI) threatening the work these firms get paid for.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
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