QQQ

Snowflake drops 4% ahead of earnings and Datadog falls 6% with no catalyst, pointing to profit-taking on crowded high-beta software positions rather than company-specific news. IGV slides 3% while QQQ gains 0.2%, confirming traders are rotating out of software specifically rather than selling technology as a whole. Datadog's 65% and Snowflake's 46% YTD gains gave traders thick cushions to trim, making positioning the clearest driver of today's selloff. Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now. The report is free. Enter your email and see if any of your stocks made the cut. Software is the day's clearest sore spot at midday, with a handful of the year's biggest AI-era winners giving back ground even as the broader large-cap technology tape barely moves. That split is the actual story of the session, and it explains why several unrelated names are sinking together while the index stays quiet. The iShares Expanded Tech-Software Sector ETF (NASDAQ:IGV) is down 3% to $103.06, tracking software as a distinct slice of the market. Meanwhile, the Invesco QQQ Trust (NASDAQ:QQQ) is up 0.2% to $709.20, which leaves the NASDAQ 100 slightly higher on the session. That contrast tells the session's clearest story, since money is leaving software as a group rather than technology as a whole. Snowflake (NYSE:SNOW) stock is down 4% to $306.22 ahead of its fiscal Q2 2027 report scheduled for after today's close. Meanwhile, Datadog (NASDAQ:DDOG) shares are falling harder, down 6% to $211.29, with no earnings scheduled and no fresh company headline attached to the move. Cloudflare (NYSE:NET) stock is also down 4% to $273.09, rounding out a trio where the deepest cuts are landing on the highest-flying names in the space. Free Report, Just Released Did Any of Your Stocks Make the Top 10 List? 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Yet the pattern across the three tickers does not fit a straightforward earnings-nerves read, because Datadog and Cloudflare are not on the calendar today and are still moving lower in step with Snowflake. If nerves alone were the story, the two non-reporters would be somewhere near the flat line rather than leading the group down. No fresh company-specific headline explains today's declines in Datadog or Cloudflare, and the broader software fund is weakening at the same time. The cleaner explanation is a rotation out of high-multiple software rather than a narrative tied to any one ticker, and that framing lines up with what the ETF split is showing on the tape. Snowflake's late-day report is a coincidence of timing more than a driver of what has already happened this morning. The software group had rebuilt momentum coming into September after a strong August recovery, and today's action looks more like traders locking in profits than a change in the AI narrative that has powered the group all year. When the biggest decliners are also the biggest recent winners in a sector, positioning tends to explain more of the day than fundamentals do. That is the read most consistent with today's ticker-by-ticker picture across Snowflake, Datadog, and Cloudflare. Each of the three featured names is dropping further than the software fund itself, which is the fingerprint of the most expensive names in a sector being sold first. Snowflake stock was up 46% year to date (YTD) through Tuesday's close. Datadog stock was up 65% and Cloudflare stock was up 45% over the same window, giving each of them a thick cushion of prior gains for traders to trim into strength. Datadog's leading decline is the most instructive detail in the group today. With no report scheduled and no announcement circulating, the deepest cut is landing on a name with nothing on its own calendar to blame for the move. Traders trimming their exposure to the year's crowded winners looks like the simpler explanation, and profit taking of this shape typically hits the highest-beta software names before it spreads to steadier corners. Additionally, the QQQ's slightly-higher print today underscores that this is not a technology-wide flush. Large-cap tech is holding up while the software sleeve inside it is being sold down, which is what a targeted rotation looks like. That is rotation, not a sector-wide verdict on the AI trade that has driven names like Snowflake, Datadog, and Cloudflare to their current levels. Snowflake's fiscal Q2 2027 release and its conference call after today's close is the next scheduled event that can reset sentiment across the group. A clean report may steady IGV and pull the peer trade higher with it, and a softer one can extend today's move into the next session for Datadog and Cloudflare as well. Either outcome will be measured against a group already in a fragile spot. Traders can watch for whether IGV holds its recent range into the close, since the sector fund's behavior is doing more to explain today's action than any single company inside it. A finish below where the fund started the week would strengthen the rotation read and put more pressure on the peer group heading into the Snowflake report tonight. Investors weighing their exposure to the highest-multiple software names in IGV may want to lean toward moderate position sizes into tonight's report and keep dry powder for the reaction. The group's leaders have already moved sharply against their holders today, and the market shifted quickly enough to justify tighter risk controls on those positions. 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MRVL dropped 8% despite beating estimates and raising its FY2028 revenue target to $18 billion after management pushed the Google AI payoff to fiscal 2029. NVDA barely moved and INTC slipped 2%, confirming the market treats the selloff as a Marvell-specific timing reset rather than a broad AI infrastructure de-rating. GOOGL holds a warrant for up to 7% of MRVL shares tied to revenue milestones, with Investor Day on October 6 the next catalyst to quantify the upside. Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now. A beat-and-raise report from Marvell hit the wires after Thursday's close, yet Friday's early trading told a very different story. Marvell Technology (NASDAQ:MRVL) stock is down 7% to $225 in early Friday trading, giving back a chunk of a huge recent run despite a record Data Center quarter and a bigger long-term revenue outlook. The catalyst comes down to timing. Marvell disclosed an expanded custom silicon agreement with Alphabet's (NASDAQ:GOOGL) Google that could scale into a franchise-defining opportunity. Management pushed the big financial impact out to fiscal 2029, later than the market was positioned for. The iShares Semiconductor ETF (NASDAQ:SOXX) is down 1% to $520.70 in early trading. The broader tech tape is down 0.1% to $720.42, essentially unmoved by comparison. That gap suggests the selloff is a Marvell-specific reset rather than a broad semiconductor unwind. Marvell reported fiscal second quarter 2027 revenue of $2.739 billion, up 37% year over year, with non-GAAP earnings of $0.94 per share. Both figures topped Wall Street expectations, positioning the release as one of the cleaner AI infrastructure reports of the season. Marvell's Data Center revenue reached a record $2.17 billion, up 46% year over year, and represented 79% of total revenue. Q3 FY2027 Data Center growth is guided at 75% year over year, reinforcing the mix shift toward AI infrastructure customers. Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now. Marvell raised its fiscal 2027 revenue outlook to about $12 billion from a previous $11.5 billion, and its fiscal 2028 target to about $18 billion from $16.5 billion. CEO Matt Murphy stated that "AI-related bookings remain exceptionally robust, and we expect our revenue growth to accelerate further through the remainder of fiscal 2027." The expanded Google agreement covers custom AI inference accelerators, storage controllers, network interface controllers, memory interface controllers, and near-memory compute, all attached to the TPU ecosystem. A warrant allows Google to acquire up to 7% of Marvell's shares, tied to revenue milestones. An analyst on the call framed the program as roughly $120 billion in cumulative revenue over six years, and management called the assessment directionally valid. The issue for Marvell shares is that management said the big impact would arrive "in 29 and beyond," with most of the near-term contribution already reflected in existing guidance. Marvell also guided Q3 non-GAAP gross margin to 57.5% to 58.5%, a sequential decline of about 90 basis points at the midpoint, attributed to a growing contribution from custom AI silicon that carries lower margins than the company's standard products. That combination, back-loaded revenue paired with front-loaded margin compression, is exactly the mix that trims a stretched multiple. For Marvell stock trading at a rich forward valuation, pushing the payoff two fiscal years out gives active managers a reason to trim into strength and revisit closer to the Investor Day setup. Meanwhile, NVIDIA (NASDAQ:NVDA) stock is down 0.2% to $227.63, barely budging after its own AI results already set the tone earlier in the week. Intel (NASDAQ:INTC) stock is down 2% to $90.34, slipping in sympathy without a fresh company catalyst of its own. The narrow spread across peers confirms the market is treating Marvell's move as an idiosyncratic reset around timing and mix rather than a broader AI infrastructure de-rating. Google's role as counterparty introduces a potential dilution mechanic for Marvell if milestones are hit, though the exposure is a long-tailed structural feature rather than an immediate overhang. Google's own AI infrastructure buildout is the underlying demand engine that made the agreement valuable in the first place, which is why the strategic read is more constructive than the tape suggests. The next scheduled catalyst is Marvell's Investor Day on October 6, 2026 in New York City, where management plans to detail the fiscal 2029 custom-revenue trajectory, ranges for the Google-related agreement, and a refreshed long-term operating model. A quantified upside case for the warrant could reframe the story as a near-term revenue accelerator, and the absence of one could deepen the reset. Traders can watch for whether MRVL stock holds key support after Thursday's close. Marvell shares were up 185% year to date through the prior session, so today's giveback still leaves a stretched setup heading into October. Investors considering the name should size their positions cautiously into Investor Day and treat any Q3 execution slippage as a signal to trim exposure rather than add. Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now. Contact [email protected] for any questions or corrections.

UiPath (PATH) surged 8% and Pegasystems (PEGA) gained 5% Thursday despite neither company reporting earnings, driven entirely by sector momentum. Salesforce (CRM) beat revenue, raised full-year guidance, and launched ClaudeForce with Anthropic, jumping 10% and lifting the software ETF IGV 3%. C3.ai reports September 2 and UiPath reports September 3, giving investors the first hard earnings test of whether this sector re-rating survives. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and UiPath didn't make the cut. Grab the names FREE today. Software's post-earnings bid is broadening past the names that actually reported. UiPath (NYSE:PATH) stock is up 9% to $18.20 in Thursday morning trading, and Pegasystems (NASDAQ:PEGA) stock is up 4% to $35.29. Neither company reported this week, which makes the size of both moves the interesting part. There's no verified company-specific catalyst behind UiPath stock today. UiPath did issue a Thursday morning press release announcing that CEO Daniel Dines has published a book on orchestrating AI agents, automation, and people inside the enterprise, but a book announcement carries too little weight to explain a move of this size. The mechanism that does hold up is sector momentum from Wednesday's software earnings, plus an oversold-name bounce in the beaten-down agentic-AI cohort. The broader software complex is riding the same wave. The iShares Expanded Tech-Software Sector ETF (CBOE:IGV) is up 3% to $105.19, while the Invesco QQQ Trust (NASDAQ:QQQ) is up 1% to $718.40, a much tamer move that pins this rally to software rather than large-cap tech in general. Salesforce (NYSE:CRM) reported fiscal Q2 2027 after Wednesday's close, beat on revenue, raised its full-year guide, and announced an expanded partnership with Anthropic tied to a new product the two are calling ClaudeForce. Salesforce stock is up 10% to $226.80 on the results, and that report is the origin of Thursday's software bid. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and UiPath didn't make the cut. Grab the names FREE today. The read-through matters for automation and agentic-AI vendors because Salesforce management framed enterprise AI as an orchestration problem sitting on top of trusted data, workflows, business rules, and governance. That's essentially the pitch UiPath and Pegasystems have been making to their own customers, which is why the bid is spilling into non-reporters that fit the same theme. When the largest enterprise software vendor validates that framing on an earnings call and raises guidance behind it, the market tends to reward every name that maps to the same idea. The common thread across today's software winners is that they are beaten-down agentic-AI names catching a lift on someone else's results. Also, C3.ai (NYSE:AI) stock is up 5% to $10.23, another oversold enterprise-AI name that did not report and had no fresh company-specific news of its own on the wires this morning. Underlying setups vary materially by name. UiPath stock was up 44% over the past month through Wednesday's close, so Thursday's session is compounding an existing recovery in a name that had already gone from left-for-dead to one of the sharper software rebounds of the summer. Pegasystems stock was down 43% year to date through Wednesday's close, so today's bid there looks more like an oversold reaction to a friendlier sector narrative than a fundamental re-rating driven by anything the company itself said or did. A one-year picture reinforces the divergence. UiPath stock was up 55% over the trailing year through Wednesday's close, while Pegasystems stock was down 35% over the same window. Both are up meaningfully Thursday for reasons that live outside their own fundamentals, which is what makes today a sector re-rating rather than a stock-picker's session. Positioning ahead of UiPath's September earnings report is a plausible contributing factor rather than a confirmed cause. Dines has been telegraphing UiPath's positioning in agentic AI for months, writing in his new book that the real project "is producing a governed description of how the business actually works — the map — and the machinery that executes stable parts exactly — the rails." That framing dovetails cleanly with what Salesforce told the market on Wednesday. Investors can watch for whether today's gains hold into Thursday's close and whether sell-side desks publish read-through notes lifting price targets on UiPath and Pegasystems on the back of the Salesforce results. A follow-through session in the IGV ETF would confirm this is a genuine sector re-rating rather than a one-day chase. UiPath is scheduled to report fiscal Q2 2027 results after the close on September 3, which is where the first fundamental confirmation of today's move will arrive. Pegasystems reports in late October, giving that name a longer runway before its own catalyst arrives. C3.ai reports on September 2, and its response will be the cleanest early test of whether this rally survives a real earnings check. A cautious position size may be warranted given that Thursday's move rests on someone else's numbers. Rallies built on read-through can unwind on read-through when the next earnings check arrives, and investors sizing their exposure into next week's PATH and AI reports should weigh the strong monthly momentum already in the chart against the absence of a company-specific catalyst today. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and UiPath didn't make the cut. Grab the names FREE today. Contact [email protected] for any questions or corrections.

US stock indices ended higher on Tuesday as investors took respite from cooling oil prices and easing yields ahead of earnings from Nvidia and Marvell Technologies. The S&P 500 ended Tuesday 0.3% higher, while the Nasdaq 100 gained 0.6% and the Dow Jones Industrial Average climbed 0.3%. The Russell 2000, which tracks stocks with small market capitalizations, rose 0.5%. See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox Dow Jones Industrial Average futures and S&P 500 futures were little changed, while Nasdaq-100 futures rose nearly 0.1%. Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) fell 0.3%, and Invesco QQQ Trust (QQQ) ended Tuesday 1% lower, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) was up 0.3%. Meanwhile, the VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX) gained about 1.7%, regaining most of the previous session's losses, tracking gains in Micron Tech (MU) and Nvidia (NVDA) stock. The broader Vanguard Information Technology ETF (VGT) rose 0.9%. Retail sentiment on Stocktwits for QQQ, SPY, and DIA was ‘bearish’ with ‘high’ message volumes. Market sentiment improved following news reports that the U.S. will redeploy diplomats to Middle Eastern embassies, alleviating fears of broader regional conflict. Simultaneously, a retreat in crude oil prices dampened inflation anxieties, providing a tailwind for Treasury markets. Bond yields slid, with the benchmark 10-year Treasury note yield falling more than 7 basis points to 4.625%, and Brent crude prices retreated to settle under the $90 threshold, as market participants weighed the potential for renewed energy transit via the Strait of Hormuz. Investor attention was solely focused on the semiconductor sector ahead of quarterly earnings from Nvidia (NVDA) and Marvell Technologies (MRVL). Analysts estimate Nvidia’s revenue is expected to hit $92.2 billion in the quarter ending July, nearly double from the same quarter last year, with earnings expectations of $2.09 per share. “Nvidia is operating on all cylinders, and they’re doing absolutely everything correctly at this point,” Mark Malek at Siebert Financial told Bloomberg. “We’re anticipating good news here, but so is everybody.” In addition, investors will keep a keen eye on the personal consumption expenditure price index reading for July, due out on Wednesday. Moderna (MRNA): Renewed optimism around its cancer vaccine program, buoyed by Wolfe Research’s $9.2 billion peak sales estimate, drove share price higher. Paramount Skydance (PSKY): Potential buyers and Wall Street intermediaries are actively assessing valuable entertainment properties that could be unloaded as Paramount Skydance Corp. (PSKY) navigates prolonged antitrust litigation over its proposed takeover of Warner Bros. Discovery Inc. (WBD). SpaceX (SPCX): The company announced that its Falcon 9 rocket completed its final planned Starlink mission from Florida and plans to invest $100 billion to build the world's largest launch facility. Lululemon Athletica (LULU): The athleisure company is expected to reduce its full-year 2026 earnings guidance again, UBS said. OpenAI: The company’s Jalapeno chips performed better than Nvidia’s current lineup during testing, SemiAnalysis said. For updates and corrections, email newsroom[at]stocktwits[dot]com. Shashank Nayar has no position in any of the stocks mentioned in this article. StockTwits' news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy. This article was originally published on StockTwits. Related: UUUU, LEU, CCJ, BWXT Stocks In Focus: Trump’s Saudi Nuclear Push Reportedly Faces Congress Debate And Israel Hurdle UUUU, LEU, CCJ, BWXT Stocks In Focus: Trump’s Saudi Nuclear Push Reportedly Faces Congress Debate And Israel Hurdle Why DOCU, TRI Stocks Slid Over 3% After Google Cloud’s Latest AI Release

MRVL drops 4% into August 27 earnings, with its 179% YTD gain and 58x forward P/E making it a bigger profit-taking target than Broadcom. SOXX tumbles 3% against QQQ's 0.7% decline, exposing semiconductors as today's pressure point and compounding MRVL's idiosyncratic pre-earnings risk. MRVL options skew bullish at a 0.53 put/call ratio, but prior earnings reactions have swung from a 18% gain to a 20% loss. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today. Semiconductors are a pressure point in tech today. Notably, the iShares Semiconductor ETF (NASDAQ:SOXX) is down 3% to $505.27 while the NASDAQ 100 tracking Invesco QQQ Trust (NASDAQ:QQQ) is down 0.7% to $708.39. Marvell Technology (NASDAQ:MRVL) stock is declining 4% to $228.31, giving ground three sessions before a confirmed earnings event and leading the semis lower. Meanwhile, Broadcom (NASDAQ:AVGO) stock is down 2% to $360.49, sliding in sympathy with its smaller AI-chip peer as positioning tightens across the group. This year, Marvell Technology stock has been the runaway performer of the pair, and today's move keeps that ranking intact by size. Year to date (YTD) through Friday's close, Marvell stock was up 179%, while Broadcom stock was up 7% over the same window. Behind the move sits an AI infrastructure business built on custom silicon and optical interconnects, and Marvell Technology stock has ridden that positioning to a runaway 2026 so far. Expectations have been rebuilt on the way up, and holders who bought the rally now have the most to protect into the next three sessions. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today. The August 27 report is confirmed by the company, with Marvell Technology set to release its fiscal Q2 2027 results after the market closes. Shares are trading below the 50-day moving average of $233.85 but comfortably above the 200-day at $145.07, so today's slide reads more as mean reversion in a strong uptrend than a broken trend. Options positioning around the event is heavy: the August 28 expiration, the first after the print, carries 32,410 call volume against 28,447 put volume and a put/call ratio of 0.53. Marvell Technology's full-chain put/call ratio sits at 0.56, so the setup still skews to calls, though the intraday decline suggests some holders are trimming their exposure into a name that has already delivered outsized returns. Broadcom's full-chain ratio is 1.02, notably heavier on puts. History also argues for humility: prior day-of reactions for MRVL have ranged from a gain of 18% in Q4 FY2026 to a decline of 20% in Q4 FY2025, so the tape can swing hard in either direction. Both Marvell Technology and Broadcom are AI-linked chip designers, and their 2026 trajectories have diverged sharply. A stock that has climbed as far as Marvell Technology stock has in 2026 carries more expectation into an event than one that has stayed close to flat (the early traits that showed up in the biggest tech winners are ones we cataloged in a free playbook here). That's the analytical spine here: when the biggest gainer is also the one with the confirmed catalyst in three days, profit taking naturally clusters with the leader. The slip in Broadcom stock is milder in part because its shares have less multiple to defend. Its market cap sits near $1.71 trillion and Broadcom shares trade at a forward P/E ratio of 20x, while Marvell Technology stock trades at a forward P/E ratio of 58x on a market cap around $199.7 billion. Marvell Technology stock also has room to fall further and still preserve most of its year's gain, which is part of what today's tape reflects. At the same time, semiconductors are declining several times harder than the broader technology tape today. The iShares Semiconductor ETF's 3% slide reads as a sector effect, and Marvell Technology stock is falling into both that group move and its own idiosyncratic event risk. Separating the two pressures matters for framing: the ETF captures group beta, while the additional 4% decline in MRVL layers pre-event positioning on top. The setup is straightforward. Marvell stock has already delivered a large year-to-date move, an earnings event is confirmed for August 27 after the close, and options positioning around that expiration is unusually active. Investors should consider keeping their position sizes modest into the report, particularly if their MRVL stake was built during the summer's run higher and now represents outsized portfolio weight. Broadcom shareholders sit in a different position given the flatter year-to-date profile, but the same principle applies to their AI-chip exposure. Traders can watch for whether MRVL stock holds the 50-day moving average through the close. Position discipline outranks conviction on days like this. After the August 27 close, the next hard data point arrives. Shareholders may want to check for whether options-implied ranges widen further as the report approaches. Until then, the story is about who has run and who hasn't, and why the runner is the one giving back the most today. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Broadcom didn't make the cut. Grab the names FREE today. Contact [email protected] for any questions or corrections.

Intel leads chip stocks lower, tumbling 5% while AMD drops 4% as traders trim exposure two sessions before Nvidia reports earnings Wednesday. Nvidia has beaten EPS estimates four straight quarters yet averages a negative 2% day-of move, leaving SOXX vulnerable regardless of Wednesday's headline result. Druckenmiller's Duquesne exited Intel, Micron, and Broadcom by June 30 while opening a new AMD position representing 0.8% of reported assets. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Taiwan Semiconductor Manufacturing didn't make the cut. Grab the names FREE today. Chip stocks are leading a narrow de-risking Monday morning, with the iShares Semiconductor ETF (NASDAQ:SOXX) down 4% to $501.17 while the iShares U.S. Technology ETF (NYSEARCA:IYW) is down 2% to $243.24. Semis are selling roughly twice as hard as broad technology, and that gap marks the session as sector-specific rather than a general tech pullback. Intel (NASDAQ:INTC) stock is down 5% to $85.98 and leads the group lower. Meanwhile, AMD (NASDAQ:AMD) stock is down 4% to $454.36, while Taiwan Semiconductor (NYSE:TSM) stock is down 3% to $406.40. No company-specific headline is driving Intel today, and positioning is being trimmed across the group two sessions before NVIDIA (NASDAQ:NVDA) reports its most consequential quarter of the year. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Taiwan Semiconductor Manufacturing didn't make the cut. Grab the names FREE today. NVIDIA reports its second-quarter fiscal 2027 results on August 26 after the close, a company-confirmed date. Given NVIDIA's dominant weight in semiconductor benchmarks, the company's guidance sets the tone for the entire complex, and traders are trimming exposure ahead of the release. Options flow points the same way: NVIDIA's full-chain put-call ratio sits at 0.61, with the earnings-week expiration running a heavier 0.82. Intel stock is the most extended large-cap name in the group after an enormous year, and traders holding large gains often trim aggressively into high-variance catalysts. Intel stock was up 144% year to date through Friday's close, which makes it the natural source of funds when investors reduce chip exposure. NVIDIA's own pattern reinforces the caution: the company has beaten Wall Street EPS estimates in four consecutive quarters, yet the average day-of price change across the last five reports was down 2%. The most recent quarter closed down 2% on release despite a 5.4% EPS surprise, and guidance nuance around China Data Center compute and Blackwell cadence has driven the reaction function more than headline numbers (the power, cooling, and networking suppliers behind that Blackwell buildout are the focus of a free report you can grab here). That history suggests a beat alone is unlikely to lift the entire complex. NVIDIA dominates chip-heavy portfolios, and that concentration is doing much of the work today. In IYW, NVIDIA represents 16.2% of net assets as of April 30, ranking as the largest disclosed position, with Broadcom (NASDAQ:AVGO) at 3.8%, AMD at 3.5%, Micron Technology (NASDAQ:MU) at 3% and Intel at 2.6%. Chip-focused funds like the iShares Semiconductor ETF carry even higher effective NVIDIA exposure, which magnifies pre-earnings positioning shifts. Reddit chatter reflects the caution as well. The iShares Semiconductor ETF sits in bearish sentiment territory at an average score of 32.5, while NVIDIA discussion is neutral with 68 qualified mentions and 665 comments, and Invesco QQQ Trust (NASDAQ:QQQ) sentiment reads neutral at an average score of 48. Investors are stepping back from chip beta rather than adding into a binary event. Separately, Stanley Druckenmiller's Duquesne Family Office disclosed in a Form 13F that positions in Intel, Micron and Broadcom, all opened in the first quarter, were gone as of June 30, and that it opened a position in AMD representing 0.8% of reported assets. Duquesne reported $5.2 billion in U.S. equity holdings at quarter end, disclosed on the standard 45-day lag. These are point-in-time snapshots that don't describe current positioning. On the competitive backdrop, Japan's Ministry of Economy, Trade and Industry intends to request an additional 150 billion yen ($941 million) for Rapidus in its fiscal 2027 budget, per Bloomberg. Rapidus is a state-backed venture founded in 2022 targeting 2-nanometer production by 2027, competing with Taiwan Semiconductor, Samsung and Intel on the leading edge of the foundry roadmap. It's a pending budget request awaiting appropriation. NVIDIA's conference call Wednesday after the close is the sector's next major catalyst. Investors can watch for guidance on China Data Center compute revenue, which NVIDIA excluded from its prior Q2 FY2027 outlook of $91 billion, plus or minus 2%, and any update on total supply-related commitments last disclosed at $119 billion. A language change on China exposure could reprice the entire chip complex within minutes of the release. Given how much of the sector's fate hinges on one report, position sizing matters more than direction here. Shareholders with concentrated chip exposure may want to check for whether their portfolios can absorb an outsized post-earnings gap in either direction, and trimming into strength ahead of a binary catalyst remains a reasonable risk-management stance. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Taiwan Semiconductor Manufacturing didn't make the cut. Grab the names FREE today. Contact [email protected] for any questions or corrections.

Burry called LULU "screaming cheap," doubling his stake to 17.4% of his portfolio while shorting NVDA at a $5.2 trillion valuation. Burry's short book extends to QQQ and SOXX, but he refuses to short AAPL, calling it "permacostly" despite its rich valuation. With 29 of 34 analysts rating LULU a Hold, Burry's contrarian bet on its forward P/E of 11 stands nearly alone on Wall Street. Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now. Michael Burry is heading into the most important earnings report of the AI cycle positioned against it. NVIDIA (NASDAQ:NVDA) reports fiscal Q2 2027 results on Wednesday, Aug. 26, 2026, after the market close, and the Scion Asset Management founder spent the weekend on his Substack, Cassandra Unchained, defending a very different kind of stock. His comments were reported by Stocktwits reporter Prabhjote Gill on Monday, Aug. 24, 2026. These were self-disclosures in a paid Substack chat, made in the days leading up to the single biggest quarterly release on the calendar for the AI trade. Riding a mania is one thing and planning the exit is another, which is exactly what we walked through in a free bubble survivor's handbook. Burry has publicly discussed short positions involving Nvidia, Micron Technology, Oracle, Nebius, the iShares Semiconductor ETF and the Invesco QQQ Trust. That spans the AI capex complex, from the GPU designer to the memory supplier, the hyperscale software partner, the neocloud, and the two index vehicles most exposed to the theme. Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now. Nvidia enters the report richly valued and richly expected. The stock closed Friday at $214.72, giving the company a market capitalization of roughly $5.2 trillion at a trailing P/E of 33. Last quarter, Nvidia posted revenue of $81.61 billion, up 85.23% year over year, with Data Center revenue of $75.25 billion and non-GAAP gross margin of 75.0%. Management guided Q2 to $91.0 billion, plus or minus 2%, a number that excludes any Data Center compute revenue from China. The full Q1 FY27 release is on file with the SEC. The centerpiece of his long book is Lululemon (NASDAQ:LULU). Burry wrote on Substack, "I believe LULU is screaming cheap here." A reader in the Substack chat observed that he appeared to have nearly doubled his LULU position, and that it now accounts for 17.4% of his holdings versus 9% for Molina Healthcare, after adding to both. Tracking of his Substack disclosures also suggests larger long positions in Zoetis, MercadoLibre, JD.com and Adobe. Burry has said he moved his Alibaba position entirely into JD.com and would need Alibaba to fall by half before reconsidering. Lululemon closed Friday at $121.07. As of that Aug. 21 close, the stock was down 41.74% year to date, down 38.91% over one year, and down 69.57% over five years. It was up 6.79% over the prior month and up 4.65% in the Friday session itself. That Friday gain settled before Burry's weekend comments surfaced. The reasons for the drawdown are in the company's own numbers. Per Stocktwits reporting on Q1 2026, revenue rose 4% to $2.5 billion, Americas revenue fell 3%, and comparable sales in the Americas declined 5%. International revenue increased 22%. The company also cut its full-year 2026 outlook to revenue of $11 billion to $11.15 billion, from a previous $11.35 billion to $11.5 billion, and cut EPS guidance to $10.95 to $11.15 from $12.10 to $12.30. Per Koyfin data cited by Stocktwits, 29 of the 34 analysts covering Lululemon rate it a Hold, with one at Buy, and the average price target is $127.92. That aligns with the Alpha Vantage consensus target of $127.92 and a forward P/E of 11. Burry is nearly alone on this call. Burry has previously argued that investors became too pessimistic on Lululemon, pointing to tangible book value per share, which he said doubled from roughly $20 to $40 over three years. He compared the market's treatment of the stock to GameStop in 2019, and argued that Lululemon's relative value was more compelling than some large technology stocks including Microsoft. Burry was asked when he might short Apple (NASDAQ:AAPL) and declined. His comment: "It is like Costco. Once in a blue moon I take my chances. It's just permacostly." For Apple, Burry treats valuation as a reason to stay out of the stock while also keeping it off his short book. Apple closed Friday at $309.35, up 38.06% over one year and up 14.10% year to date, and last reported nine consecutive EPS beats, with Q3 FY26 EPS of $2.02 on revenue of $109.42 billion. Burry is short the biggest name in AI hardware and long a beaten-down apparel retailer that most of Wall Street will not touch above Hold. Nvidia's put/call ratio across the full options chain sits at 0.60, and the December 2026 expiration is above 1.29, indicating heavier put positioning further out. Wednesday's release will land into that setup. Don't wait: the analyst who called NVIDIA in 2010 just revealed his top 10 AI stocks. See the full list FREE now. Contact [email protected] for any questions or corrections.

The S&P 500 ended Monday 0.3% lower, while the Nasdaq 100 dropped 1% and the Dow Jones Industrial Average climbed 0.3%. The iShares Semiconductor ETF dropped 3%. SpaceX’s first AI satellites, powered by Nvidia chips, are to be launched in 2027. The S&P 500 and Nasdaq dropped on Monday, pulled lower by weakness in chipmaker stocks as investors prepare for earnings from Nvidia and Marvell Technologies later this week. The S&P 500 ended Monday 0.3% lower, while the Nasdaq 100 dropped 1% and the Dow Jones Industrial Average climbed 0.3%. The Russell 2000, which tracks stocks with small market capitalizations, fell 0.8%. See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) fell 0.3%, and Invesco QQQ Trust (QQQ) ended Monday 1% lower, while the SPDR Dow Jones Industrial Average ETF Trust (DIA) was up 0.3%. Meanwhile, the VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX) dropped 2.5%, with Micron Tech (MU) and Nvidia (NVDA) leading declines. The broader Vanguard Information Technology ETF (VGT) fell 1.5%. Retail sentiment on Stocktwits for QQQ, SPY, and DIA was ‘bearish’ with ‘high’ message volumes. Treasury yields declined after a CNBC report said the Treasury could use the General Account to finance a bond buyback. The 10-year Treasury note yield dropped by over 3 basis points to 4.704%. Meanwhile, the 30-year Treasury bond yield fell more than 4 basis points to 5.234%, pulling back after surpassing 5.3% last week—a level last observed nearly two decades ago. However, Citadel Securities labeled Scott Bessent’s expanded bond buyback initiative as “financial repression.” In a note to clients accessed by Bloomberg, Nohshad Shah, head of EMEA fixed-income sales at Citadel Securities, described the policy as failing to solve the underlying drivers of surging yields. Furthermore, to isolate Iran and bring an end to the war, the Treasury chief announced an “economic D-Day” campaign, threatening economic sanctions against any country conducting business with the nation and offering no additional hints regarding adjustments to U.S. debt management strategy. Investor attention was solely focused on the semiconductor sector ahead of quarterly earnings from Nvidia (NVDA) and Marvell Technologies (MRVL). Broadcom Inc. (AVGO): The stock is facing growing scrutiny in the credit markets as investors gauge the risks of the semiconductor giant backing massive debt deals to power its artificial intelligence expansion. Intel (INTC), Bloom Energy (BE): Former House Speaker Nancy Pelosi has filed new financial disclosures detailing multi-million-dollar stock and option acquisitions in semiconductor manufacturer Intel Corp. (INTC) and clean energy provider Bloom Energy Corp.(BE). Nvidia (NVDA): Nvidia said that its Groq 3 LPX inference accelerator is now in full production for the Vera Rubin platform. Paramount Skydance (PSKY): California Attorney General Rob Bonta reportedly canceled a meeting scheduled for Monday with Paramount (PSKY) representatives to explore a settlement in the state's lawsuit seeking to block Paramount's proposed acquisition of Warner Bros. Discovery (WBD). For updates and corrections, email newsroom[at]stocktwits[dot]com. Shashank Nayar has no position in any of the stocks mentioned in this article. StockTwits' news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy. This article was originally published on StockTwits. Related: NVDA Stock’s 7-Day Losing Streak Sets Up Make-Or-Break AI Earnings Test: Retail Expects Yet Another Beat Why Did APP, ARRY, NFE Stocks Slump To 52-Week Lows Today? RUM Group CEO Vows Quake AI Will Challenge CoreWeave, Nebius: Retail Speculates Mystery $13.7B GPU Customer

Interested in Constellation Software Inc.? Here are five stocks we like better. AI strategy remains decentralized: Constellation is using AI mainly to improve development productivity and enhance mission-critical software, but executives said AI has not yet produced meaningful organic growth and no specific AI revenue targets are planned. Vertical-market focus is expanding: The company plans to organize related businesses and acquisition prospects into more coherent verticals without operationally integrating them, aiming to strengthen expertise, capital deployment and its appeal to software founders. Organic-growth pressure is viewed as temporary: Management attributed weaker recurring-revenue growth to difficult comparisons, turnarounds and a known customer loss, while maintaining that growth should move closer to its historical 5%–6% range as these effects fade. This Tech ETF Is Beating QQQ—and Canada May Be Part of the Reason Constellation Software (TSE:CSU) used its second-quarter conference call to outline its approach to artificial intelligence, vertical-market organization and acquisitions, while executives addressed recent organic-growth pressure tied to several acquired businesses and comparison effects. President Mark Miller said the company is seeing AI affect both customer demand and internal software development. Customers are asking its software products to do more, while operating businesses are using AI tools to move more quickly through customer-driven product roadmaps and develop products faster, he said. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat However, Miller said Constellation will not centralize AI decision-making at head office or provide AI-specific revenue targets, timelines or reporting metrics. Instead, business-unit managers will determine how to deploy AI within their own vertical markets and fund initiatives through their own profit-and-loss statements. “Our software is primarily mission-critical,” Miller said. “It is embedded in how a customer runs their businesses every day. AI is something we add to make that software more valuable.” → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be In response to a question from BMO Capital Markets analyst Thanos Moschopoulos, Miller said Constellation has begun to see development teams improve productivity as they receive training on AI tools. The company has not yet seen a meaningful increase in organic growth directly attributable to AI product enhancements, however. Miller said product development can move quickly, but selling new products requires customers to have budgets and a business need they are willing to pay to address. He characterized AI-driven organic-growth benefits as still “a ways out.” → First Solar’s Profit Engine Faces a New Policy Test in Washington Chief Financial Officer Jamal Baksh said the company has established general-ledger accounts to track token costs and other AI-related spending. He said AI costs are not currently having a material impact on the company’s profit and loss statement, although third-party maintenance expense has increased slightly. Miller added that Constellation has not committed itself to a single AI platform and intends to let its businesses adapt their tool choices as costs and technologies evolve. The company is not currently focused on reducing headcount through AI, he said, given its decentralized structure and the relatively small development teams within many individual businesses. Miller also described an effort to group businesses and acquisition prospects into more coherent verticals. The goal is to become “the obvious permanent owner of a niche,” he said, building a reputation that makes Constellation the first call for founders considering a sale. He emphasized that the initiative does not represent an effort to operationally integrate acquired companies. Rather, Constellation may move certain businesses across operating groups so that related companies are “in the same orbit” under leaders focused on particular verticals. The approach could enable businesses serving similar markets to learn from each other and potentially share useful AI applications, Miller said. He cited the company’s experience with vertically focused leaders and the creation of Lumine as evidence that the model can work. The principal constraint, he said, is developing the right leaders for each vertical. Constellation also expects some mergers-and-acquisitions and business-development resources to become more closely aligned with verticals as those groups expand. Miller said larger vertical groups have historically shown success in deploying capital. Baksh addressed questions about maintenance and recurring-revenue organic growth, which analysts noted had been below Constellation’s historical 5% to 6% range in constant currency. He said several factors affected the quarter: Altera faced a difficult comparison against the second quarter of 2025, when it recorded a couple of new-name sales and recognized a portion of revenue upfront under IFRS accounting rules. Dark Matter also faced a strong prior-year comparison, while the business remains a turnaround with negative organic growth. Lumine’s recently acquired businesses generated 1% organic growth in the quarter as the company works to improve them. A South American business lost a large customer whose departure was known when Constellation acquired the company; Baksh said that customer accounted for roughly a 30-basis-point drag on Constellation’s results. Baksh said the Altera and Dark Matter effects were largely accounting-related and should revert in the following quarter. Excluding the cited factors, he said organic growth would normalize closer to the company’s historical rate. Based on businesses currently owned, he said management does not expect another major customer loss or similar anomaly in coming quarters. Regarding Altera, Baksh said the business is expected to be a “slow shrinker” for the next year or couple of years, but there was “nothing terrible going on” beyond the difficult comparison. Miller said the asset has performed in line with the original investment thesis and ahead of its expected internal rate of return, based on discussions with the Harris operating group’s CEO. Chief Investment Officer Bernie Anzarouth said Constellation continues to find opportunities across owner-managed companies, private-equity-owned assets and corporate carve-outs. Recent acquisition activity involving businesses such as DerbySoft, TouchBistro and Imagine reflected deal-specific circumstances rather than a broad change in valuations for larger assets, he said. Anzarouth said competition for vertical software assets remains robust, although the company is seeing “some weaknesses at the high end in pricing.” He said Constellation’s win rates have not materially improved and that established competitors and “copycats” remain active in the market. On DerbySoft, Anzarouth acknowledged that the transaction carried a high multiple, describing the business as successful, growing and profitable. Baksh noted that leverage was used in the transaction, while Miller said the company’s hurdle rates for expected returns have not changed. Executives also discussed the challenges of larger acquisitions and carve-outs, including more complex product lines, different corporate cultures, intertwined financial statements and the need to separate businesses from parent-company systems. Miller said Constellation has learned that applying best practices can take longer in larger acquisitions and that breaking them into smaller business units can accelerate improvements. Despite growing capabilities for larger deals, Miller said Constellation remains focused on vertical-market software rather than expanding into other sectors. “There’s so much more for us to do in the software world,” he said. Constellation Software is an international provider of market-leading software and services to a number of industries. Our mission is to acquire, manage and build market-leading software businesses that develop specialized, mission-critical software solutions to address the specific needs of our particular industries. Our company was founded in 1995 to assemble a portfolio of vertical market software companies that have the potential to be leaders in their particular market. Since then, we have grown rapidly through a combination of acquisitions and organic growth, and established a strong constellation of companies with a large, diverse customer base. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Constellation Software Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Archer Aviation surged 11% Tuesday as earnings-call details revealed Boeing's Insitu subsidiary generates $200M+ annually and can fund Archer's operations independently. JOBY shares dropped 2% and EH stayed flat, indicating that the rally is Archer-specific and not a broad eVTOL sector move. Despite back-to-back double-digit rallies, ACHR remains down 10% year to date, with an analyst target of $10.50 implying meaningful upside potential. It sounds nuts, but SoFi1 is giving new Active Invest users up to $3,000 in stock for a limited time, and all it takes is a $50 deposit to get started.2 See for yourself (Sponsor) Archer Aviation (NYSE:ACHR) stock is climbing 11% to $6.93 Tuesday morning, extending Monday's 12% deal-day pop as investors continue to digest details from Archer's Q2 2026 earnings call. The move follows Monday's coverage of the Boeing (NYSE:BA) tie-up with Archer Aviation and reflects Day 2 follow-through on the same story. Archer's air-taxi peers aren't rallying with ACHR stock. Joby Aviation (NYSE:JOBY) shares are down 2% to $8.59, and EHang Holdings (NASDAQ:EH) shares are unchanged/flat at $5.68. The Invesco QQQ Trust (NASDAQ:QQQ) ETF is idle at $720.16, underscoring that this is a company-specific event, not a sector or index-driven rally. The fresh catalyst is the color that Archer Aviation's management provided on the call about the deal. Archer disclosed that its Q2 revenue came in at $5 million, up 213% quarter over quarter and well above the $1.96 million consensus. The per-share loss came in line with estimates, and Archer stock is responding to the growth setup rather than the bottom-line print. Archer Aviation CFO Priya Gupta framed the acquired Boeing subsidiary Insitu as a profitable business generating more than $200 million of revenue a year that is expected to contribute positive free cash flow, allowing Archer to operate on a "self-funding basis" and "significantly change the profile for Archer." CEO Adam Goldstein positioned the defense and drone assets as a route to profitability that reduces both cash burn and dilution risk. SoFi Active Invest is offering a limited-time promotion. Open an account, fund it with $50 or more, and you could receive up to $3,000 in complimentary stock for Active Invest accounts. See for yourself by clicking here now. (Sponsor) The cash-burn picture still matters. Archer Aviation posted a Q2 adjusted EBITDA loss of $177.1 million and guided Q3 to an adjusted EBITDA loss of $170 million to $200 million. The company ended the quarter with roughly $1.6 billion in liquidity, giving it runway to close the Boeing transaction and continue certification work. The Day 1 catalyst was Archer's all-stock agreement to acquire Boeing's Wisk Aero, Insitu, and SkyGrid subsidiaries, giving Boeing a 16% stake in Archer alongside a technology-sharing arrangement. None of those Boeing units trade separately. Boeing shares closed Monday at $232.79, and Boeing stock has barely moved on the news. Operational milestones stack the bull case. The Midnight aircraft has completed piloted city-to-city flights, and Archer says it is the only OEM in the final phase of FAA type certification. Management flagged its Halo-Thunder autonomous VTOL platform, developed with Anduril, as targeting a total addressable market above $100 billion with first flight next year and deliveries in 2029, alongside the ZEE aviation AI foundation model. Joby Aviation stock and EHang stock haven't participated in the ACHR stock rally, which is notable given both compete in the broader eVTOL and urban-air-mobility category. Neither name has issued fresh news today, and the flat print in QQQ shares (which doesn't hold small-cap Archer) reinforces that the stock is reacting to Archer's own catalysts. The one-day divergence is a clean signal that money is chasing the Boeing-driven pivot toward defense revenue, not an eVTOL basket rally. The broader picture for Archer stock is still mixed. Even after this pop, ACHR shares are down 10% year to date (YTD) and down 29% over the trailing year. The analyst target price of $10.5 implies meaningful upside if the Boeing deal delivers as guided. Investors can watch for signs of the Boeing acquisition closing by year-end, the first commercial eIPP flights in Texas and the Los Angeles area before year-end, and updated analyst notes reacting to the self-funding framing. Whether Archer Aviation stock can hold above the $6.85 level into the close may indicate if this Day 2 follow-through has legs, or if the deal-week trade is running out of fuel. Looking to grow your money but unsure where to begin? SoFi Active Invest is offering a limited-time promotion—open a new Active Invest account, fund it with $50 or more, and you could receive up to $3,000 in complimentary stock. From $0 commission trading3 to fractional shares4 and automated investing, this app is designed to simplify investing for everyone, whether you’re just starting or already experienced. Its easy to sign up and secure your bonus.(Sponsor) Contact [email protected] for any questions or corrections.