Jordan Cunningham
speaker
132 appearances
2 recordings
1 series
first heard Jun 2026
last heard 8 Jul
Jordan Cunningham’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Jul 2026 with 1.
Appearances
The Nasdaq actually fell 4.6% and the S&P 500 dropped 1.95%.
But if you sort of peel back the layers and look a bit deeper, there's a little bit more nuance to the story.
The Dow added 0.6%, the Russell 2000 rose 1%, and the Equal Weight S&P, which sort of strips out some of those massive market cap weightings to balance it out, it actually beat the index by over two points.
It tells you that the declines were really a big tech story.
They were concentrated.
It wasn't sort of a broad market story across the full US market.
The other dominant theme of the week was around AI and some of those big tech companies.
At the top of the AI trade, we saw quite a number of companies actually dropping.
NVIDIA fell 8.6%, Google shed 8.3%, and Qualcomm dropped a sharp 16.3%.
The Philadelphia Semiconductor Index fell 8% for the week as well.
Yeah, there was a few things that happened of note over the week.
Apple and Microsoft have both come out and said that they'll be raising prices as a direct result of increased costs that they're facing for the underlying hardware and compute that's being passed on to their customers.
The second thing was actually that reports have come out that OpenAI, which has a lot of speculation and interest in their upcoming IPO, they've actually said they're looking to potentially delay their IPO until after 2027, citing uncertain market conditions.
So both of those things kind of come together to put a bit of dampening on that AI sentiment and slowing that momentum perhaps.
So on the other side of the ledger, Micron delivered its Q3 results.
There was really strong expectations going into that and they performed really well.
Price rose following those results.
They actually are expecting tight memory supply conditions to continue past 2027.
So there's really a bit of a sentiment in the market that that underlying hardware of the AI trade has still some strength to come.
But it's the huge valuations in some of those top line companies that the market may start to question.
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