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Memory makers struggle a day before Micron earnings. (0:15) Carnival shares fall on guidance. (1:37) Walmart acquires Vibe.co to expand connected TV advertising. (2:10)

This is an abridged transcript of the podcast:

Our top story so far, AI memory and chip stocks are facing a wave of selling as investors continue taking profits across the tech sector.

South Korea's Kospi Index has slumped about 10% from its recent record high.

Samsung Electronics (SSNLF) and SK Hynix (HXSCL) each plunged about 12% in Seoul. SK Hynix came under pressure after a local report said it is slowing expansion of AI memory-chip production to focus more on lower-cost DRAM products.

Meanwhile, Sandisk (SNDK) is down 12%, Western Digital (WDC) has fallen 10% and Seagate Technology (STX) is off 8%.

The Philadelphia Semiconductor Index (SOX) and the VanEck Semiconductor ETF (SMH) have each dropped about 7%.

Despite the selloff, Wall Street analysts remain upbeat.

Wedbush's Dan Ives said Micron's (MU) earnings report on Wednesday is creating additional nervousness around the memory-chip trade, while technical factors are also weighing on stocks.

But "recent Asia checks and overall AI enterprise demand tracking have accelerated over the past few months and are showing no cracks in the armor, which continue to make us very bullish on owning the tech AI winners over the coming year," Ives said.

BofA also raised price targets on chipmakers including Intel (INTC), Arm Holdings (ARM) and Micron (MU), saying visibility into AI-related spending now extends through 2028.

The bank increased its estimate for the semiconductor total addressable market to $2.7T, implying 28% annual growth between 2025 and 2030, up from its previous forecast of $2.3T.

Among other active stocks, Carnival (CCL) shares are sinking after the cruise operator raised full-year earnings guidance, but not enough to satisfy Wall Street's lofty expectations.

The company's outlook for the current quarter also fell short of expectations, while fiscal second-quarter results showed pressure on margins from higher fuel costs and a 6% increase in costs per available lower berth day.

And Avis Budget Group (CAR) is higher after the car-rental company reached a settlement with Pentwater Capital Management to resolve litigation over alleged short-swing profits.

Under the agreement, Pentwater will pay $650M in cash to Avis, subject to court approval.

In other news of note, Walmart (WMT) has agreed to acquire connected-TV advertising platform Vibe.co, expanding its ad-tech capabilities as it looks to make streaming television advertising more accessible to small and mid-sized businesses.

The retailer said Vibe.co's self-service platform will be integrated into Walmart Connect, its commerce media business.

The deal will allow advertisers to launch connected-TV campaigns and measure their effectiveness using Walmart's audience and commerce data.

And in the Wall Street Research Corner, the U.S. Treasury market's 2026 returns show a simple pattern: bills have beaten notes, and notes have generally outperformed bonds.

Longer maturities have remained vulnerable to sticky inflation, fiscal concerns and interest-rate volatility.

Three-month Treasury bills (US3M) are up 1.68% year to date through Monday, the strongest return across the curve, according to a Daily Shot chart shared by Mike Zaccardi.

The 2-year Treasury (US2Y) is up 0.31%, while the 30-year Treasury (US30Y) has gained just 0.38%.

The belly of the curve has struggled. The 5-year Treasury (US5Y) is down 0.70% year to date, while the benchmark 10-year Treasury (US10Y) is down 0.74%.

For investors still waiting for a cleaner Fed rate-cut cycle, duration has remained a headwind.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.