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Apple, Alphabet, and Microsoft followed closely behind, with all top five companies driven by AI-related businesses and cloud computing. However, capital did not continue to flow unilaterally into chip stocks in July: the PHLX Semiconductor Index (SOX) dropped 20.61% in a single month, putting upstream names such as TSMC, SK Hynix, and Micron under visible pressure. 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and Bottom Performing Stocks at About 12:00 P.m. 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Hynix's U.S. Listing Didn't Fix Its Micron Discount. 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