US stocks plunged across the board last Friday (June 5) $Nasdaq Composite Index (.IXIC.US)$ dropping more than 4%, $PHLX Semiconductor Index (.SOX.US)$ and even tumbling 10%—semiconductor stocks lost $1.3 trillion in market value over two days. Why such a sharp sell-off? Three factors converged at once: the nonfarm payrolls data came in scarily strong, immediately fueling bets on rate hikes; $Broadcom (AVGO.US)$ earnings missed expectations, shaking investor faith in AI; and profit-taking intensified after a prolonged rally.

So, is it time to buy the dip? Wall Street is split—Goldman Sachs calls it a "healthy pullback, buy on dips," but Citi warns that bubble conditions are at their highest since 2008 and cautions against blind bargain-hunting. Do you think this is panic selling or the start of a bubble burst?