US Tech 100 Eases as Chip Stocks Pause Ahead of Nvidia Earnings

On May 18 the US Tech 100 eased as semiconductor shares took a breather ahead of Nvidia’s Q1 report, with options pricing a 6% move and a threatened 18-day Samsung strike adding supply-chain risk. The pause caps an 18-day stretch of warnings that began with a 40.9 CAPE ratio on May 4 and escalated through Boockvar’s pull-forward alerts, Burry’s leveraged tech shorts, and non-Mag-7 names surging 70% on weak guidance. The latest catalyst came May 17 when a top CIO flagged 150x price-to-sales multiples that implicitly require 100% annual revenue growth for a decade—an unprecedented bar now under scrutiny as hyperscaler capex hits $725 billion.