SoftBank's stock decline is part of a larger trend affecting technology companies, as investors engage in profit-taking. The company's shares had previously surged approximately 70% this year, driven by optimism surrounding artificial intelligence.
CEO Masayoshi Son expressed his belief that the AI revolution could surpass the dot-com boom, suggesting that current market corrections may present future investment opportunities. However, Deutsche Bank analyst Peter Milliken noted that the market seems overly focused on short-term trends rather than long-term growth potential.
Additionally, SoftBank recently sold a 3.25% stake in Indian eyewear company Lenskart, raising about 28.73 billion rupees ($5.32 per share), with notable buyers including ICICI Prudential and Kotak Mahindra. As of the latest trading, SoftBank's shares were down to 7,434 yen