SPRX is trading 4.8% down today as information technology shares sell off alongside a weaker Nasdaq and risk-off sentiment toward expensive AI and semiconductor names.
- The sector is under pressure from concerns over rising AI infrastructure costs and hardware price hikes from industry giants like Apple and Microsoft.
- Market sentiment reflects a continued rotation out of high-growth tech into more defensive and value sectors, overshadowing positive news such as IBM’s 0.7nm chip breakthrough.