Chips took a brutal hit from AI costs and new supply, but our software names found their rhythm today
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Morning brief: Yields and oil took a welcome dip, and chips got the memo while our SaaS names found their rhythm
Tech Rotates as Yields and Oil Cool: Capital is aggressively rotating from AI chips to oversold software as US-Iran talks cool oil and bond yields. SanDisk Plunges 11.02% Amid Memory Chip Rout: SNDK fell 11.02% following a sharp sell-off in Asian chipmakers and rising competitive fears from Chinese memory debut CXMT. Atlassian Jumps 10.35% on AI Integration: TEAM surged 10.35% after launching AI-native coding agents in Jira and riding a massive sector rotation into oversold SaaS. Workday Spikes 9.01% on Software Rotation: WDAY soared 9.01% following bullish RBC commentary highlighting its AI-driven vendor defensibility during a massive enterprise software rally. Watch The Fed and Mega-Cap Earnings Wednesday: Tomorrow brings a pivotal Fed rate decision alongside a dense earnings slate that will test this fragile tech sector rotation.
Tech Rotates as Yields and Oil Cool
Capital is aggressively rotating from AI chips to oversold software as US-Iran talks cool oil and bond yields.
SanDisk Plunges 11.02% Amid Memory Chip Rout
SNDK fell 11.02% following a sharp sell-off in Asian chipmakers and rising competitive fears from Chinese memory debut CXMT.
Atlassian Jumps 10.35% on AI Integration
TEAM surged 10.35% after launching AI-native coding agents in Jira and riding a massive sector rotation into oversold SaaS.
Workday Spikes 9.01% on Software Rotation
WDAY soared 9.01% following bullish RBC commentary highlighting its AI-driven vendor defensibility during a massive enterprise software rally.
Watch The Fed and Mega-Cap Earnings Wednesday
Tomorrow brings a pivotal Fed rate decision alongside a dense earnings slate that will test this fragile tech sector rotation.
Posture: With Fear at 41 and a looming Fed decision, a cautious posture is warranted as capital rotates out of semis into software.
Upcoming earnings
Evening brief: Chips took a brutal hit from AI costs and new supply, but our software names found their rhythm today
Tech and Semis Enter Brutal Selloff: The Nasdaq-100 tumbled near correction territory as rising AI costs and Chinese competition sparked a massive rotation out of chip stocks. SNDK Plunges 14.3% on Weak Demand: Sandisk crashed 14.25% today amid a broader memory selloff, fueled by weak flash demand and fears over new Chinese supply flooding the market. Workday Surges 8.2% Ahead of Earnings: WDAY popped 8.24% as investors rotated into software and bought the dip ahead of its August earnings report, ignoring recent analyst downgrades. Bloom Energy Drops 11.3% Before Beat: BE fell 11.34% in the tech rout but popped 7% after-hours on a huge Q2 revenue beat and raised full-year 2026 guidance. Watch Big Tech Earnings For AI Clues: Tomorrow brings a massive test for the AI infrastructure trade. Watch if heavy hyperscaler capital expenditures are finally yielding tangible returns.
Tech and Semis Enter Brutal Selloff
The Nasdaq-100 tumbled near correction territory as rising AI costs and Chinese competition sparked a massive rotation out of chip stocks.
SNDK Plunges 14.3% on Weak Demand
Sandisk crashed 14.25% today amid a broader memory selloff, fueled by weak flash demand and fears over new Chinese supply flooding the market.
Workday Surges 8.2% Ahead of Earnings
WDAY popped 8.24% as investors rotated into software and bought the dip ahead of its August earnings report, ignoring recent analyst downgrades.
Bloom Energy Drops 11.3% Before Beat
BE fell 11.34% in the tech rout but popped 7% after-hours on a huge Q2 revenue beat and raised full-year 2026 guidance.
Watch Big Tech Earnings For AI Clues
Tomorrow brings a massive test for the AI infrastructure trade. Watch if heavy hyperscaler capital expenditures are finally yielding tangible returns.
Posture: Defensive. With Fear at 38 and a brutal semiconductor selloff, we are building cash while selectively rotating into software and quality defensives.
Tickers in focus: QQQ, SNDK, WDAY
Upcoming earnings
The day's moves on the ledger
No slate changes were logged this day.
← Monday, July 27, 2026 · Wednesday, July 29, 2026 → · Archive