Samsung Earnings Trigger Market Shift: Chip Stocks Fall 7%, Megacap Tech Rebounds on July 7

According to CNBC's Jim Cramer, Samsung's earnings report Tuesday triggered a significant market reversal. Samsung shares fell 7% following the results, with memory chip competitor Micron down 4.7%, as investors questioned demand for hardware components. Rather than abandoning tech, however, money flowed into megacap companies including Amazon, Alphabet, Meta, and Apple—names that had underperformed much of the year. Cramer said the move may signal a shift in AI leadership from hardware suppliers toward the companies funding data center buildout.
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