Markets Brief

Friday, July 3, 2026

Last updated 5:09 AM PT

Market Value

$212,362.25

Cost $239,993.08

Day's Gain

-$15,008.18

-6.60%

Total Gain

-$27,630.83

-11.51%

AI semis & memory

MU

Day's Gain $
-$3,403.20
Day's Gain %
-5.49%
Total Gain $
-$4,709.90
Total Gain %
-7.45%

Qty # 60 · Last Price $975.56 · Value $58,533.60 · Total Cost $63,243.50

Memory is still the AI bottleneck, and Micron’s blowout earnings say HBM pricing, DRAM tightness, and NAND leverage matter more than lawsuit noise. Down 5.49% today and 7.45% on the position, I’d buy weakness in pieces because the trade is on while AI capex keeps starving for high-bandwidth memory.

AI buildout — fiber, storage, power

SNDK

Day's Gain $
-$2,872.20
Day's Gain %
-14.13%
Total Gain $
-$5,325.00
Total Gain %
-23.38%

Qty # 10 · Last Price $1,745.00 · Value $17,450.00 · Total Cost $22,775.00

AI infrastructure is still the sector, but SNDK is getting repriced as the weak storage-linked piece today, and that 14% hit says margins and capex timing matter more than the slogan. Keep a core for AI storage, trim oversized risk, and only buy weakness in pieces when demand headlines beat the semi selloff narrative.

Other holdings

AMAT

Day's Gain $
-$2,393.50
Day's Gain %
-7.35%
Total Gain $
-$1,681.90
Total Gain %
-5.28%

Qty # 50 · Last Price $603.04 · Value $30,152.00 · Total Cost $31,833.90

Semicap is getting hit, and with no fresh AMAT headlines, this is sector de-risking, not a company-specific thesis break. Own it, don’t trade it: Applied’s margins, services mix, and AI-driven wafer-fab capex exposure matter more than one ugly tape day.

AMD

Day's Gain $
-$461.20
Day's Gain %
-4.26%
Total Gain $
-$1,185.20
Total Gain %
-10.27%

Qty # 20 · Last Price $517.82 · Value $10,356.40 · Total Cost $11,541.60

Semis first: these headlines do not change AMD, with Bioepis irrelevant and 64GB game specs only a tiny PC-demand footnote. At a -10% position, I’d hold core, not add, and trim any bounce unless MI-series orders, HBM supply, and data-center margins start proving the AI case.

BE

Day's Gain $
-$558.30
Day's Gain %
-6.43%
Total Gain $
-$1,833.30
Total Gain %
-18.41%

Qty # 30 · Last Price $270.89 · Value $8,126.70 · Total Cost $9,960.00

Energy infrastructure first: these headlines are noise for BE, and a -6.43% day with an -18.41% position says the market wants proof on margins, backlog conversion, and real grid-power demand. I would not chase it; buy weakness only in pieces after clean execution, otherwise trim and move capital to power names with stronger cash flow.

GEV

Day's Gain $
-$531.00
Day's Gain %
-1.87%
Total Gain $
$597.25
Total Gain %
2.19%

Qty # 25 · Last Price $1,113.11 · Value $27,827.75 · Total Cost $27,230.50

Power equipment is still a scarcity trade, but with no fresh catalyst and GEV red on the day, I would not chase it here. Stay long for grid, gas turbine, and electrification exposure, and buy weakness in pieces because the fundamentals matter more than a 1-day downtick.

INTC

Day's Gain $
-$1,000.50
Day's Gain %
-5.25%
Total Gain $
-$1,810.99
Total Gain %
-9.12%

Qty # 150 · Last Price $120.35 · Value $18,052.50 · Total Cost $19,863.49

This is an AI semis risk-off tape, and Intel is the weakest link because money wants accelerators, HBM, CoWoS leverage, and fat margins, not a foundry turnaround burning cash. I’d trim rallies and buy weakness only in pieces after real AI server share or foundry customer wins show up; right now INTC is a show-me name.

MRVL

Day's Gain $
-$2,408.40
Day's Gain %
-9.84%
Total Gain $
-$5,711.90
Total Gain %
-20.56%

Qty # 90 · Last Price $245.29 · Value $22,076.10 · Total Cost $27,788.00

Semis first: no fresh headlines means this is the market punishing AI-adjacent names that have not shown enough margin leverage and customer breadth. I like MRVL only as a scaled-in weakness buy, not a chase; stay long at sane size and make them prove optical, custom silicon, and storage demand, booyah.

SPCX

Day's Gain $
$8.92
Day's Gain %
2.83%
Total Gain $
-$95.81
Total Gain %
-22.82%

Qty # 2 · Last Price $162.00 · Value $324.00 · Total Cost $419.81

Space is a capital-hungry winner-take-most sector, and Ives' Wedbush outperform with a $190 target says the market is starting to pay for SpaceX's launch cadence, Starlink scale, and vertical integration. At $162 with the position still down 22.82%, I like buying weakness in pieces, not chasing the +2.83% pop; own the differentiated asset, but respect the capex load.

TSM

Day's Gain $
-$201.40
Day's Gain %
-2.27%
Total Gain $
-$844.80
Total Gain %
-8.87%

Qty # 20 · Last Price $434.16 · Value $8,683.20 · Total Cost $9,528.00

Semis are risk-off today, but these fund-flow headlines do not change the TSM story: leading-edge wafers, CoWoS bottlenecks, and AI customer demand still drive the margin setup. At -9% in the position, I stay long and buy weakness in pieces because this is the foundry tollbooth for the whole AI buildout.

WDC

Day's Gain $
-$1,187.40
Day's Gain %
-9.92%
Total Gain $
-$5,029.28
Total Gain %
-31.81%

Qty # 20 · Last Price $539.00 · Value $10,780.00 · Total Cost $15,809.28

No fresh news means this is multiple-compression selling, not a new fundamental break. I would not chase the bounce here; wait for proof on margins, NAND pricing, and AI storage demand before adding.

Watchlist

BE

BLOOM ENERGY CORP COM CL A

$270.89 -$18.61 (-6.43%)

BE is an AI power and grid-capex story, and a 6% down day says the market is demanding proof that the big power narrative turns into signed capacity, margins, and cash flow. Watch backlog quality, data-center customer concentration, fuel-cell service margins, and policy credits; I like the setup only if the orders show real economics, not just booyah headlines.

CBRS

CEREBRAS SYSTEMS INC COM CL A

$204.86 -$16.41 (-7.42%)

No fresh headlines means this is a risk-off move, not a thesis-changing fundamental reset. Watch volume, sector sympathy, and the next company update before chasing it, because down 7% without news can be opportunity or trap.

IRDM

IRIDIUM COMMUNICATIONS INC COM

$53.75 -$1.97 (-3.54%)

No fresh headline, so this is tape not thesis: IRDM is satellite connectivity, where service revenue durability and free-cash-flow conversion matter more than the daily swoon. Watch subscriber adds, ARPU, capex discipline, and any direct-to-device partnership signal; I like the setup only if margins and cash generation stay intact.

LITE

LUMENTUM HLDGS INC COM

$728.32 -$72.84 (-9.09%)

A 9% air pocket with no fresh headline screams sector de-risking in optical, not a thesis-breaker by itself. For LITE, watch orders, gross margins, hyperscaler exposure, and AI data-center optical pull-through before getting excited.

LRCX

LAM RESEARCH CORP COM NEW

$351.41 -$39.85 (-10.19%)

Semi equipment is under pressure because the AI trade is losing its free pass, and LRCX down 10% says investors are questioning whether wafer-fab spending keeps pace with the hype. Watch memory capex, China demand, and the HBM/advanced-packaging supply chain; order strength turns this into a quality reset, order weakness keeps the trade off.

NVDA

NVIDIA CORPORATION COM

$194.83 -$2.75 (-1.39%)

Semis are getting hit on the Meta AI cloud headline, but for Nvidia the real watch is whether hyperscaler capex still flows into GPU clusters, HBM, CoWoS, optical, and power capacity. I like the setup on weakness only if demand and margins stay intact; if customer concentration or supply-chain bottlenecks crack, the trade is off.

PLTR

PALANTIR TECHNOLOGIES INC CL A

$129.30 $3.57 (2.84%)

D.A. Davidson put the buy-the-dip flag on PLTR, and that keeps the AI software trade alive at $129.30, booyah. Watch commercial AIP growth, federal durability, and margin leverage, because this premium valuation needs fundamentals, not hype, to carry the next leg.

PWR

QUANTA SVCS INC COM

$668.31 -$23.09 (-3.34%)

No fresh headline means this is tape-driven selling, not a thesis break: grid capex, data-center power demand, and utility hardening still work for PWR. I like it on orderly weakness, but watch backlog quality, margin conversion, and labor costs before chasing a red day.

Q

QNITY ELECTRONICS INC COMMON STOCK

$141.75 -$11.62 (-7.58%)

No fresh headlines means this is a tape move, not a thesis move, and I want the sector context before touching the name. Watch whether buyers show up around fundamentals, not vibes; if the business updates stay clean, the selloff goes on the watchlist, not in the trash.

RDDT

REDDIT INC CL A

$194.67 -$3.09 (-1.56%)

RDDT is still an internet ad and AI-data toll-road story: the watch is whether licensing leverage turns into durable margins while search traffic and platform dependence stay under control. After a 12% AI-licensing pop and today’s fade, I would not chase it, but the setup improves fast if user growth, ad pricing, and data-deal renewals keep moving higher.

SIMO

SILICON MOTION TECHNOLOGY CORP SPONSORED ADR

$300.71 -$16.27 (-5.13%)

Semis are risk-off today, and SIMO getting hit even after a higher analyst target says the tape cares more about memory-cycle durability than target math. Watch NAND controller demand, China exposure, and margin guide next; at $300 with only 1% implied downside to the new average target, I need a cleaner reset before I like this name here.

TSM

TAIWAN SEMICONDUCTOR MANUFACT SPONSORED ADS

$434.16 -$10.07 (-2.27%)

Semis are under crowded-AI de-risking pressure, but TSM is still the tollbooth because HBM, CoWoS, and leading-edge wafer demand run through it. The move does not change the setup; watch customer capex, packaging capacity, and grid power constraints, because that is where the next leg is made.