"List of 'losers' in the AI revolution: Investment bank Wedbush warns that these giants are being abandoned by the times"

Notice, artificial intelligence is fundamentally changing the way expenditures are made in various industries, benefiting companies such as NVIDIA Corporation (NVDA.US), AMD (AMD.US), etc. However, while some companies become winners, investment bank Wedbush Securities has also listed a list of companies that may be negatively impacted by artificial intelligence. In the semiconductor and PC sectors, Wedbush believes that "soaring computer memory demand" is squeezing companies related to the traditional PC and mobile phone sectors, negatively impacting Intel Corporation (INTC.US), HP Inc. (HPQ.US), Synaptics (SYNA.US), Qualcomm (QCOM.US), Qorvo (QRVO.US), and Cirrus Logic (CRUS.US). The company's analysts wrote in a report to clients, "Given the concentrated computer memory supply and soaring demand driven by AI infrastructure, memory pricing is skyrocketing." "We expect that with large-scale manufacturers locking in supply and wafer fab space limiting capacity increases, contract prices for DRAM in the fourth quarter of 2025 will rise by over 30%, while NAND flash prices may rise by at least 20%, with further increases expected in 2026. As memory accounts for about 20% of PC bill of materials, a 27.5% average increase in memory prices means a 5.5% impact on the cost of goods sold, and for equipment manufacturers such as HP Inc., gross margins will compress by 300-440 basis points. In the highly competitive and elastic consumer PC market, these manufacturers cannot raise prices; on the contrary, if manufacturers raise prices significantly, they will face severe demand destruction." In addition to chips, Wedbush also said that the rise of autonomous vehicles may have a negative impact on ride-sharing companies such as Uber Technologies, Inc. (UBER.US) and Lyft (LYFT.US). The company pointed out that Tesla, Inc.'s first batch of self-driving vehicles without safety drivers will be deployed in Austin, Texas by the end of the year. Analysts explained, "Autonomous vehicle fleets can transport people and goods without human labor, marking the most impactful transformation in transportation economics since the introduction of ride-sharing a decade ago. We expect this to bring about significant disruption, especially in the transportation network sector. As autonomous vehicle (AV) networks scale, value will flow to platforms with (1) fleets, (2) data accumulation, and (3) closed-loop economic benefits. This fundamentally weakens the asset-light ride-sharing model of Uber Technologies, Inc. and Lyft." The advertising sector may also be negatively impacted as Agentic AI is causing massive shifts in advertising funding flow. Therefore, Wedbush has downgraded Pinterest (PINS.US) and believes that The Trade Desk (TTD.US) will be negatively affected as advertisers shift to "validated conversion ecosystems" such as Amazon.com, Inc. (AMZN.US), Meta's Advantage+ (META.US), Alphabet Inc. Class C's Performance Max (GOOGL.US), and AppLovin's AXON 2.0 (APP.US). The company's analysts explained, "In an Agentic AI world, advertising spending should flow to platforms that provide the richest first-party data, measurable conversion rates, and the shortest 'signal to sale' feedback loop." Major software as a service (SaaS) companies such as Adobe (ADBE.US), Docusign (DOCU.US), and Workday (WDAY.US) may also be negatively impacted. Wedbush expects that while some companies will surpass their cloud-based business models and focus more on usage-based payment, companies with high-cost products are likely to be impacted. "Similar to past enterprise software evolution cycles, disruptors typically first succeed by partnering with smaller companies or in niche applications before threatening entrenched competitors in large enterprise core functions. Adobe, Docusign, and Workday are among those facing the greatest threat." Meanwhile, Wedbush has downgraded Nice Systems (NICE.US) from "outperform" to "neutral" and lowered the target price from $170 to $120. Finally, Wedbush believes that Agentic AI's impact on the retail industry is disrupting various areas, including intermediary institutions such as Instacart (CART.US).