Markets Brief

Wednesday, July 22, 2026

Last updated 3:09 PM PT

Market Value

$197,646.67

Cost $239,993.08

Day's Gain

-$3,611.66

-1.79%

Total Gain

-$42,346.41

-17.64%

AI semis & memory

MU

Day's Gain $
-$680.40
Day's Gain %
-1.17%
Total Gain $
-$5,674.70
Total Gain %
-8.97%

Qty # 60 · Last Price $959.48 · Value $57,568.80 · Total Cost $63,243.50

AI memory is still the trade: Micron rallying with AMD, Marvell, and Sandisk says HBM and DRAM demand are carrying the sector. Down 8.97% on the position, I’d buy weakness in pieces and stay long unless margins crack.

AI buildout — fiber, storage, power

SNDK

Day's Gain $
$98.70
Day's Gain %
0.62%
Total Gain $
-$6,782.30
Total Gain %
-29.78%

Qty # 10 · Last Price $1,599.27 · Value $15,992.70 · Total Cost $22,775.00

SNDK is AI plumbing, and storage rides the same capex wave as chips, fiber, and power. Down 29.78%, I’d buy weakness in pieces, demand margin proof on earnings, and stop treating it like a quick flip.

Other holdings

AMAT

Day's Gain $
-$531.50
Day's Gain %
-1.88%
Total Gain $
-$4,137.90
Total Gain %
-13.00%

Qty # 50 · Last Price $553.92 · Value $27,696.00 · Total Cost $31,833.90

AMAT is semi equipment, and with no fresh headlines this is sector weakness, not thesis damage. I’d stay long but buy weakness in pieces, because margins and leading-edge capex still matter, while the hotter AI trade is sitting closer to HBM, CoWoS, optical, and grid power.

AMD

Day's Gain $
$158.00
Day's Gain %
1.45%
Total Gain $
-$495.00
Total Gain %
-4.29%

Qty # 20 · Last Price $552.33 · Value $11,046.60 · Total Cost $11,541.60

Semis are back in charge: AMD is catching the AI rebound with Micron and Sandisk, but the proof has to come through MI-series demand, margins, HBM supply, and CoWoS capacity. Tariff noise is macro chop, not a thesis-killer; down 4% in the position, I’d stay long and buy weakness in pieces.

BE

Day's Gain $
-$241.20
Day's Gain %
-3.55%
Total Gain $
-$3,413.40
Total Gain %
-34.27%

Qty # 30 · Last Price $218.22 · Value $6,546.60 · Total Cost $9,960.00

Energy hardware first: these headlines are noise, not Bloom Energy, so the stock is trading on fuel-cell demand, project margins, and whether grid-strapped data centers become real orders. Do not average down blindly; buy weakness only in small pieces after real backlog proof, otherwise trim rallies because this name has to earn its margins before it earns a booyah.

GEV

Day's Gain $
-$2,344.50
Day's Gain %
-8.69%
Total Gain $
-$2,604.75
Total Gain %
-9.57%

Qty # 25 · Last Price $985.03 · Value $24,625.75 · Total Cost $27,230.50

Power equipment is still the bull market: AI grid demand drove orders, earnings beat, guidance went up, and the stock is down because wind is the anchor and the multiple was priced for perfection. Stay long, buy weakness in pieces, and demand proof that wind stops eating the margin story; own the electrification franchise, don’t trade the selloff.

INTC

Day's Gain $
-$424.50
Day's Gain %
-2.68%
Total Gain $
-$4,470.49
Total Gain %
-22.51%

Qty # 150 · Last Price $102.62 · Value $15,393.00 · Total Cost $19,863.49

Semis are risk-on, but Intel is still a turnaround, not a clean AI capex winner, and RBC's Q2 revenue-beat call plus layoff chatter says margins and data-center execution are the whole game. With the position down 22.5% and today's fade after the squeeze, I'd keep it in Other, trim strength, and only buy weakness in pieces if the beat comes with real margin discipline.

MRVL

Day's Gain $
$272.70
Day's Gain %
1.46%
Total Gain $
-$8,798.90
Total Gain %
-31.66%

Qty # 90 · Last Price $210.99 · Value $18,989.10 · Total Cost $27,788.00

Semis are getting a bid and MRVL is in the right lane: AI data-center silicon, optical, and custom compute demand are why the trade is on. But with the position still down 31.66%, I’d buy weakness in pieces, not chase a one-day rally; own the AI infrastructure exposure, don’t trade the headline pop.

SPCX

Day's Gain $
-$16.56
Day's Gain %
-6.70%
Total Gain $
-$189.29
Total Gain %
-45.09%

Qty # 2 · Last Price $115.26 · Value $230.52 · Total Cost $419.81

SpaceX sentiment is getting hit by Tesla headline gravity, not a fresh change in the rocket-and-satellite fundamentals, but a 45% position drawdown says this is now discipline first. I would not chase the bounce; trim risk into strength and only buy weakness in pieces if you still believe launch cadence, Starlink scale, and capex execution can carry the valuation.

TSM

Day's Gain $
-$68.00
Day's Gain %
-0.80%
Total Gain $
-$1,103.80
Total Gain %
-11.58%

Qty # 20 · Last Price $421.21 · Value $8,424.20 · Total Cost $9,528.00

Semis: TSM is the tollbooth on AI silicon, and the real story is CoWoS capacity, advanced-node pricing, and capex discipline, not PNC trimming a stake. Lin Shyue-Shyh buying 2,000 shares is a small but clean insider signal; I like this name on weakness, own it, don’t trade it.

WDC

Day's Gain $
$165.60
Day's Gain %
1.51%
Total Gain $
-$4,675.88
Total Gain %
-29.58%

Qty # 20 · Last Price $556.67 · Value $11,133.40 · Total Cost $15,809.28

Semis are catching a bid, but WDC is a storage and memory margin story, not an AI leadership story; the trade lives or dies on NAND pricing, cloud HDD demand, and gross-margin repair. Down 29.58% in the position, don’t chase a 1.51% bounce at $556.67: buy weakness in pieces after earnings confirm the recovery, otherwise trim rallies.

Watchlist

AMD

ADVANCED MICRO DEVICES INC COM

$552.33 $7.90 (1.45%)

AI semis are still the main event, and AMD’s new AI chip partnership keeps it in the second-source hunt against Nvidia. Watch whether this turns into real accelerator revenue, HBM access, and margin leverage, because press releases do not pay the bills.

AVGO

BROADCOM INC COM

$396.81 $10.31 (2.67%)

AI semis are still the battleground, and AVGO’s 2.7% pop is the market paying for custom silicon, networking, and VMware margin leverage, not one tiny wealth-manager filing. Watch hyperscaler ASIC demand, CoWoS capacity, and software retention; I like this name on pullbacks if those stay firm, because the trade is on.

CBRS

CEREBRAS SYSTEMS INC COM CL A

$209.80 $1.23 (0.59%)

AI silicon is the battleground, and Cerebras just made the watchlist more interesting because buyers want credible Nvidia alternatives with real memory bandwidth, power efficiency, and software support. Watch whether this partnership converts into booked revenue and capacity, especially HBM and advanced packaging; after a tiny move, I’d track it, not chase it.

GLW

CORNING INC COM

$154.06 -$8.35 (-5.14%)

Glass and optical are getting hit, but no fresh headline says this 5% drop is a tape move, not a broken setup. Watch optical orders, margin guide, and AI data-center demand, because if those hold, I like this name on weakness.

GOOGL

ALPHABET INC CAP STK CL A

$342.09 -$5.06 (-1.46%)

GOOGL is an AI capex and Search-margin story now, and this earnings print has to prove the spending is turning into Cloud acceleration without crushing operating leverage. The down day does not change the setup; I like waiting for proof on Cloud margins, Gemini monetization, and YouTube ads before saying the trade is on.

LITE

LUMENTUM HLDGS INC COM

$829.70 -$7.86 (-0.94%)

No fresh headlines means the tape is telling you nothing new, so watch the optical/AI supply-chain read-throughs first: CoWoS, HBM, and datacenter capex matter more than a down 0.94% day. I’d keep it on the screen, but without a fresh catalyst the trade is not on yet.

NVDA

NVIDIA CORPORATION COM

$212.06 $4.77 (2.30%)

AI infrastructure is still the leadership group, and Nvidia’s $4 billion cloud stake is demand creation with a balance sheet, not a hobby. At $212 after a 2.3% pop, chase nothing; watch gross margins, HBM/CoWoS supply, and whether this cloud bet turns into contracted AI capacity, because that is when the trade is on.

Q

QNITY ELECTRONICS INC COMMON STOCK

$138.74 -$0.04 (-0.03%)

No fresh headlines and a flat tape at $138.74 means Q is still a watchlist name, not a chase. I want real sector news, margin evidence, or demand confirmation before saying the trade is on.

RDDT

REDDIT INC CL A

$170.38 -$15.46 (-8.32%)

RDDT is getting hit because the market priced in high-margin AI licensing as real margin fuel, and a Google access shutoff would punch that narrative right in the multiple. Watch management’s next language on data deals and ad growth: if licensing gets messy, the trade is off until the core ad business proves it can carry the valuation.

SIMO

SILICON MOTION TECHNOLOGY CORP SPONSORED ADR

$281.68 $3.51 (1.26%)

This Tesla headline has nothing to do with SIMO, so the +1.26% move does not change the watchlist call. For Silicon Motion, watch NAND pricing, SSD controller share, gross margins, and China device demand; the trade is on only when the memory cycle is clearly firming.