Markets Brief

Friday, July 3, 2026

Last updated 3:09 PM 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

Semis are getting taken down as a group, but MU’s AI memory thesis is not broken when Meta is talking bigger cloud infrastructure spend and HBM remains the margin story. At -7.45% on the position, I’d buy weakness in pieces and stay long; own it, don’t trade it, because capex, HBM supply, and pricing are still the ballgame.

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

Storage is part of the AI buildout, but SNDK is trading like a violent memory-cycle name, not a steady picks-and-shovels compounder. After a 14% hit today and a 23% position drawdown, I would hold the core, stop adding, and use rebounds to trim until NAND margins and hyperscaler storage demand prove the rally is alive.

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 equipment is getting hit with the whole AI capex reset tape, but AMAT’s story is still wafer-fab intensity, advanced packaging, and memory process complexity. I’d hold the core in Other Holdings and buy weakness only in pieces, because margins and China exposure matter more here than one ugly -7.35% print.

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

AI semis are getting hit as a basket, but Cramer says he likes AMD on the dip, and I agree because the fight is data-center share, HBM, CoWoS, and margins. Stay long, buy weakness in pieces, and don’t let one ugly tape shake you out unless capex orders or supply-chain access cracks.

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

Power is still the AI bottleneck, but BE is acting like a high-multiple story stock getting punished because the headline is hype, not orders, margins, and cash flow. I’d stop chasing strength here, hold only a right-sized position, and buy weakness in pieces only if the grid-power backlog starts showing up in numbers.

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 the right lane: grid demand, gas turbines, and electrification capex give GEV real earnings leverage, but no fresh catalyst means I would not chase this dip aggressively. Stay long, trim only if position size is getting loud, and buy weakness in pieces because this is an own-it-don’t-trade-it infrastructure winner.

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

Semis first: this is not an AI capex story, it is Intel leaning on older China DIY demand, and that smells like lower-quality revenue with margin pressure. At -9% on the position, I keep this in the penalty box and buy weakness only in pieces after real foundry traction shows up; no booyah yet.

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: with no fresh headline, this looks like a multiple reset, not a thesis reset, but MRVL has to prove AI networking, custom silicon, optical, and margins can carry the valuation. I would not chase the bounce; stay long only in pieces, and trim strength if this is not a core AI infrastructure holding.

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

SPCX is getting a sympathy bid from semis, AI power and memory, not a clean company-specific catalyst. I’d use the +2.83% pop to clean up size, because a -22.82% position needs proof in holdings quality, not advisor-flow headlines.

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 getting de-risked, but TSM is still the AI toll road: leading-edge wafers, CoWoS, HBM packaging demand, and capex discipline keep the moat intact. At -8.87% in the position, I’d buy weakness in pieces or stay long; own it, don’t trade it.

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

Storage is in the penalty box, and with no fresh headlines I treat this as position risk, not a new thesis. I’d stop feeding it, trim any bounce, and redeploy only when margins or demand give you a reason.

Watchlist

CBRS

CEREBRAS SYSTEMS INC COM CL A

$204.86 -$16.41 (-7.42%)

At $204.86 after a 7.42% hit, CBRS is guilty until the next fundamental print proves otherwise; no headline, no booyah. Watch margins, customer concentration, and sector demand, because without fresh news this is a setup to study, not chase.

GOOGL

ALPHABET INC CAP STK CL A

$359.91 -$1.30 (-0.36%)

GOOGL sits in the AI-advertising sweet spot: Search cash flow, YouTube scale, Cloud leverage, and a dividend that keeps it in big-cap quality screens. JPMorgan putting it on July top ideas says the trade is on, but watch capex, Gemini usage, and cloud margins because AI spend has to show up in revenue, not just server bills.

IRDM

IRIDIUM COMMUNICATIONS INC COM

$53.75 -$1.97 (-3.54%)

Satellite connectivity is a real scarcity sector, but IRDM down 3.5% on no fresh headlines is not a signal. Watch service revenue, handset adoption, and free cash flow; the trade is not on until those fundamentals accelerate.

LITE

LUMENTUM HLDGS INC COM

$728.32 -$72.84 (-9.09%)

LITE’s 9% air pocket with no fresh headline says the market is questioning optical AI order durability, not the whole capex cycle. Watch backlog, hyperscaler customer concentration, and margin commentary; if those hold, this becomes buyable weakness, booyah.

LRCX

LAM RESEARCH CORP COM NEW

$351.41 -$39.85 (-10.19%)

Semi equipment is the pressure point today, and LRCX down 10% says the market is questioning AI capex durability, not Lam’s franchise. Watch memory spend, HBM tool intensity, and wafer-fab equipment orders; I like this name on disciplined weakness, but margins must prove the cycle is still on.

PLTR

PALANTIR TECHNOLOGIES INC CL A

$129.30 $3.57 (2.84%)

AI software is where the trade is on, and PLTR is moving because D.A. Davidson and Gil Luria are saying the dip is buyable on valuation and competitive edge. Watch margins, commercial billings, and government deal durability; I like the setup, but after a +2.84% pop, buy weakness in pieces.

PWR

QUANTA SVCS INC COM

$668.31 -$23.09 (-3.34%)

PWR is a grid-power and infrastructure winner, so a red day without fresh news looks like multiple compression, not thesis damage. Watch backlog quality, utility capex, data-center power demand, and margins; I like this name on real weakness, not after one routine shakeout.

Q

QNITY ELECTRONICS INC COMMON STOCK

$141.75 -$11.62 (-7.58%)

No fresh headlines on a 7.6% hit says this is a tape shock, not a confirmed fundamental break. Watch peer action, volume, and any delayed company filing; until the business reason shows up, I’d keep it on the watchlist and let the sellers exhaust themselves.

RDDT

REDDIT INC CL A

$194.67 -$3.09 (-1.56%)

Social media ad-tech is the sector lens: Reddit is building the tools that make advertisers test faster, prove ROI, and shift more budget onto the platform. The red day does not change the setup; watch margins, ad load, and data-licensing durability, because I like this name here if the ad stack keeps getting more measurable.

SIMO

SILICON MOTION TECHNOLOGY CORP SPONSORED ADR

$300.71 -$16.27 (-5.13%)

Semis are losing the easy AI bid, and SIMO down 5% says the market wants HBM, CoWoS, optical, and power, not second-derivative controller exposure. Watch margins and enterprise SSD demand; I like it only on proof pricing is firming, otherwise the trade is on in cleaner AI infrastructure names.