Michael Burry Doubles Down On His AI Call
Plus, Oracle plunges, Cathie Wood's latest moves, earnings, stock of the day, and more
Happy Thursday! Michael Burry’s AI bets are starting to pay off as cracks emerge in one of the market’s most crowded trades. Read on to see what Burry is doubling down on and what it could mean for the months ahead.
Software stocks are breaking into winners and losers. Discover Bank of America’s top five picks and why the the gap could keep growing.
And inflation just hit a three-year high, shaking confidence that the Fed is done tightening. See what the markets are now pricing in now and what it means for your portfolio.
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TOP STORY
Michael Burry’s AI Bets Are Starting To Pay Off And He’s Doubling Down On This Stock Too
Michael Burry’s high-profile bet against several AI favorites is finally starting to gain momentum, raising questions about the durability of one of the market’s hottest trades.
As concerns mount on valuations, profits, and the forces driving the AI boom, a growing number of veteran investors are warning that the rally may be facing a critical test. If they’re right, the implications could extend far beyond just a handful of tech stocks.
Read on to see which stock Burry is doubling down on and what it could mean for stocks in the months ahead.
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Yesterday: U.S. indexes fell sharply Wednesday, with the Dow dropping more than 900 points, as renewed geopolitical tensions and weakness in semiconductor stocks weighed on investor sentiment. Markets came under pressure after President Trump indicated that negotiations with Iran are going too slow and warned of additional military action. Chip stocks led the market decline, amid speculation that investors are cashing out on the big winners to make room for the SpaceX IPO on Friday. Meanwhile, gold prices continued their recent pullback, falling more than 3% and extending a monthly decline of 13%. On the economic front, annual inflation accelerated to 4.2% in May, matching expectations and reaching its highest level since April 2023, prompting markets to price in a rate hike before year-end.
On Our Radar: Looking ahead, Wall Street will be paying attention to Weekly Jobless Claims, PPI, and Personal Consumption data for clues on the labor market, inflation, and consumer strength. On the earnings front, all eyes will be on Adobe (ADBE), which will report after the market close today.
MARKET HEATMAP
Shares of Lumentum (LITE), T-Mobile (TMUS), and Robinhood (HOOD) were among the few bright spots in an otherwise down market. Meanwhile, Super Micro (SMCI), Nvidia (NVDA), Marvell (MRVL) and Caterpillar (CAT) were among the top laggards on the day. But those weren’t the only companies making big moves. Here’s a look at some of the biggest winners and losers on Wednesday.
See how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.
FIVE ZINGERS
Ark Moves: Cathie Wood and Ark Invest made significant trades yesterday. Read on to see what other stocks she’s buying and selling.
Cloud Boom: Oracle topped analyst estimates with cloud revenue accelerating sharply on AI demand. Yet the stock tanked after hours. Read on to see why.
Metal Meltdown: Silver’s parabolic run has unraveled fast, with a nearly 50% drawdown due to macro pressure and the Fed shifting expectations. Find out what levels traders are watching and where shares are likely headed next.
Sell Signal: Two well-known consumer stocks are flashing classic overbought signals as momentum stretches into overbought territory. Discover why you may want to dump them this quarter.
Stock Of The Day: Shares of Vishay have soared more than 400% in the past 3 months and has pushed momentum into rare, historical extreme territory. Is there still room to keep going? Read on to see what levels traders are watching and where shares are likely headed next.
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