This Canadian tech stock is getting crushed as AI sell-off spreads across the mark
Yahoo Finance ·
This Canadian tech stock is getting crushed as AI sell-off spreads across the mark Investing.com Thu, November 5, 2026 at 3:57 PM EST 2 min read ^NDX -6.36% CLS -11.93% CLS -11.93% GSPTTTS NVDA -9.18% Investing.com -- Canada's technology sector is showing a widening divide as a global retreat from artificial intelligence trades hammers chip and hardware-linked stocks, while software companies and telecom providers prove more resilient, suggesting investors are shifting away from high-growth AI bets towards steadier businesses. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Reuters reported that the SOX semiconductor index fell as much as 11% today, its worst day since March 2020 . One strategist called it "the unwinding of the AI trade." Unsure what to buy ahead of earnings? Our AI's recent pre-earnings calls delivered gains of +77% to +118% after results dropped. See this month's earnings picks » Deutsche Bank had upgraded US tech on Nov 2 , saying the selloff had gone too far. More than $2T left the Nasdaq 100 in October. Bloomberg Opinion's John Authers notes the damage is concentrated in AI beneficiaries rather than the broad market (Nov 2, 2026). Celestica is the key risk. An earlier screener snapshot showed it down about 39.5% over one month and 54.9% below its 52-week high. Another double-digit drop today adds to that. DRCs are not diversification. Canadian listings of US AI leaders move almost one-for-one with their US counterparts. Software looks insulated, at a price. The same snapshot showed CSU at about 55x and DSG at about 44x trailing earnings, with RSI near 70. RSI is a momentum gauge, and readings near 70 are often read as overbought. These multiples leave little cushion if the rotation reverses. Telecoms are moving the other way. BCE and Telus are up as investors rotate toward steadier cash flows. NVIDIA reports on Nov 17, per a Nov 3 article . It is the likeliest swing factor for Celestica and the AI DRCs. A weak print would extend the damage. A strong one could spark a rebound in the oversold hardware names. Screener return and valuation figures are snapshots and may lag live prices. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. AI free-fall triggers another major hedge fund shakeout Massive market rotation raises question: Is the sell-AI trade here to stay?
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