In the near term, artificial intelligence (AI) continues to be a key sales catalyst for leading chip suppliers. IDC's latest report projects the semiconductor market will grow 15% in 2025, led by AI demand.

U.S. stocks are stumbling toward the close of one of their worst weeks of the year with mixed trading on Friday. The S&P 500 was basically flat in morning trading after flipping between small losses and gains earlier.

Many Wall Street bears have retreated in the face of this year's blistering stock rally. The few that remain see a steep correction on the horizon.