OpenAI delayed its debut, the chip trade is quietly hurting, and we're officially hiding in Microsoft calls with Michael Burry until June payrolls drop
← Thursday, June 25, 2026 · Sunday, June 28, 2026 → · Archive
Morning brief: OpenAI pushed the IPO, AI agents are coming for software seats, and AMD is quietly carrying our portfolio through a messy quarter-end rotation
OpenAI IPO Delay Spooks Tech Sector: Nasdaq futures fell as OpenAI's rumored IPO delay and Asian profit-taking triggered a broad AI sell-off today. AMD Surges on Huge Target Upgrades: Defying the market bleed, AMD jumped 2.6% after UBS and TD Cowen raised targets on AI server momentum. ServiceNow Sinks on AI Agent Fears: NOW dropped 4.5% as new autonomous AI agents sparked fears of declining per-seat enterprise software revenues. Nike Slides on Slashed Q4 Estimates: Nike fell 2.2% ahead of Tuesday's earnings as analysts cut estimates amid weakening global consumer demand. End Of Quarter Rotation Hits Tech: With the Fear index at 25, watch for volatile end-of-quarter portfolio rebalancing out of heavy tech positions next week.
OpenAI IPO Delay Spooks Tech Sector
Nasdaq futures fell as OpenAI's rumored IPO delay and Asian profit-taking triggered a broad AI sell-off today.
AMD Surges on Huge Target Upgrades
Defying the market bleed, AMD jumped 2.6% after UBS and TD Cowen raised targets on AI server momentum.
ServiceNow Sinks on AI Agent Fears
NOW dropped 4.5% as new autonomous AI agents sparked fears of declining per-seat enterprise software revenues.
Nike Slides on Slashed Q4 Estimates
Nike fell 2.2% ahead of Tuesday's earnings as analysts cut estimates amid weakening global consumer demand.
End Of Quarter Rotation Hits Tech
With the Fear index at 25, watch for volatile end-of-quarter portfolio rebalancing out of heavy tech positions next week.
Posture: Defensive stance. With the Fear Index at 25 and volatile end-of-quarter tech rotation underway, we are building cash to await better entry points.
Tickers in focus: AMD, NOW, QQQ
Upcoming earnings
Evening brief: OpenAI delayed its debut, the chip trade is quietly hurting, and we're officially hiding in Microsoft calls with Michael Burry until June payrolls drop
AI Software Leads as Hardware Trade Fades: Investors rotated from pricey chipmakers into software stocks today after OpenAI delayed its expected IPO until 2027. ServiceNow Surges on Upgrades and IBM Deal: Shares jumped nearly 10% after Benchmark upgraded the stock and announced an expanded AI partnership with IBM. Microsoft Rallies on Michael Burry Options: A disclosed bullish call option position by Michael Burry ignited massive retail and institutional buying volume today. Semis Slump on OpenAI IPO Delay Worries: Broadcom, AMD, and Nvidia slid today as OpenAI postponed its highly anticipated IPO, sparking AI demand fears. June Payrolls Loom Crucial for Rate Path: With core inflation sticky and yields stabilizing, the June jobs report will determine future central bank action.
AI Software Leads as Hardware Trade Fades
Investors rotated from pricey chipmakers into software stocks today after OpenAI delayed its expected IPO until 2027.
ServiceNow Surges on Upgrades and IBM Deal
Shares jumped nearly 10% after Benchmark upgraded the stock and announced an expanded AI partnership with IBM.
Microsoft Rallies on Michael Burry Options
A disclosed bullish call option position by Michael Burry ignited massive retail and institutional buying volume today.
Semis Slump on OpenAI IPO Delay Worries
Broadcom, AMD, and Nvidia slid today as OpenAI postponed its highly anticipated IPO, sparking AI demand fears.
June Payrolls Loom Crucial for Rate Path
With core inflation sticky and yields stabilizing, the June jobs report will determine future central bank action.
Posture: Cautiously Aggressive: Using 'Extreme Fear' as a contrarian signal to accumulate oversold enterprise software and resilient high-quality value.
Tickers in focus: MSFT, SMH
Upcoming earnings
The day's moves on the ledger
No slate changes were logged this day.
← Thursday, June 25, 2026 · Sunday, June 28, 2026 → · Archive