SpaceX shed roughly $400 billion in value this week. Its stock has now fallen below its IPO-day closing price. Despite the crash, bond investors rushed to lend the company $20 billion — a striking confidence gap between equity and debt markets. The sell-off spilled into the broader tech landscape. Alphabet suffered a $225 billion market cap wipeout amid fears it is losing the AI talent war. Futures for the S&P 500 and Nasdaq pointed lower as the tech rout deepened Monday.
Chips are the split story of the week. A major chip index has doubled in 2026 — with Micron Technology adding $1 trillion in market cap this year alone. Marvell Technology got a further boost today. Bank of America raised its price target to $365, reiterating Buy. Micron reports Q3 earnings on June 24. Expectations are high and options activity is building fast.
Quantum computing also jumped onto the agenda. IBM received a formal White House nod — Trump made its quantum strategy official. That lifted shares in the sector, including , , and .
FedEx and Carnival both report today. FedEx is a key trade bellwether. Any tariff commentary will move markets. KB Home also prints today, giving a fresh read on US housing.
Short sellers keep pressing the AI space. Wolfspeed sits at 103.5% SI % of free float with zero shares available to borrow. Cerebras Systems climbed to 32.8% SI % FF. Meanwhile, Applied Materials insiders filed to sell over $107 million in stock this month — a pattern that is drawing options traders' attention ahead of any further AI hardware moves.
European stocks slid today. The defence sector held firmer after Ukraine ratified a $105 billion EU loan deal.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
