Fear crept back into the room over runaway capex, and now our AI longs have to hope Apple remembers how to rally

Evening brief: Fear crept back into the room over runaway capex, and now our AI longs have to hope Apple remembers how to rally

Published Nov 1, 2026, 8:08 PM EST

AI Capex Anxiety Drags Market to Fear

Friday's tech selloff accelerated as mounting scrutiny over hyperscaler capital expenditures and debt financing triggered broad risk-off positioning, pushing CNN's Fear & Greed index down 9 points into Fear at 26. Investors entering Monday must navigate whether the tech retreat stabilizes or triggers a wider valuation reset across high-multiple growth assets.

Sources: live.euronext.com

Intel Plunges 28.6% on Bleak Guidance

Intel shares plummeted 28.58% to $65.76 after forecasting fourth-quarter revenue of $15.0 billion to $16.0 billion and EPS of $0.25, badly missing consensus due to persistent PC market weakness and a factory outage in Israel. The dramatic reset demonstrates that 78% data center growth cannot compensate for consumer computing erosion and ongoing free-cash-flow headwinds.

Sources: www.intc.com · www.thestreet.com

Reddit Drops 29.2% on Search Squeeze

Reddit plunged 29.22% to $91.73 after warning that Google's AI-powered search features cut weekly referrals by over one million, triggering softer fourth-quarter revenue guidance between $1.00 billion and $1.03 billion. The revelation exposes acute vulnerability in ad-supported platforms to generative AI cannibalization, threatening user acquisition despite strong 53% third-quarter top-line growth.

Sources: live.euronext.com · www.thestreet.com

SanDisk Sinks 13.5% as Memory Peaks

SanDisk tumbled 13.47% to $1,150.89 despite beating headline quarterly expectations, hit by mounting investor anxiety that cyclical memory pricing and hyperscaler hardware purchases are nearing a peak. The sharp drawdown signals that even the premier AI hardware winners are seeing multiple compression once growth sustainability is called into question.

Sources: live.euronext.com · www.thestreet.com

Apple Earnings Set the Stage for Tech

Apple reports fiscal fourth-quarter results Monday after the close in new CEO John Ternus's first earnings call, with Wall Street expecting $113.4 billion in revenue alongside guidance on memory cost headwinds. Ternus's commentary on iPhone demand and margin resilience will serve as the make-or-break sentiment test for the broader tech sector this week.

Sources: www.fool.com · 9to5mac.com

Market posture: Fear at 26 and AI capex headwinds warrant a Defensive posture, prioritizing resilient cash generators ahead of Apple's earnings.

Stocks in this edition: AAPL, QQQ

Upcoming earnings

• APP — Wed, Nov 4, 2026, after the close
• AMAT — Thu, Nov 12, 2026, after the close
• NVDA — Tue, Nov 17, 2026, after the close
• DELL — Tue, Nov 24, 2026, time not announced
• AVGO — Wed, Dec 9, 2026, after the close
• MU — Wed, Dec 23, 2026, after the close

The day's lineup changes

No lineup changes this day.