๐ Week recap: $RIVN +15%, chip stocks crater โ July 4 week biggest movers
Markets closed for Independence Day, so here is the week in a nutshell: Rivian ($RIVN) was the clear winner, ripping ~15% after a blowout Q2 delivery report โ 12,194 vehicles vs ~10,600 expected โ and raising its 2026 full-year delivery guidance to 65,000โ70,000 units. Meanwhile the chip sector got body-slammed: SanDisk ($SNDK) sank 11%, Micron ($MU) dropped ~8%, and the PHLX Semiconductor Index shed 6.7% on a brutal combo of profit-taking (the SOX nearly doubled in Q2!) and a new class-action lawsuit targeting memory chipmakers. The Dow still managed an all-time high close Wednesday, so not all doom and gloom. Not financial advice. EV comeback story or chip pullback buying opportunity โ which has you more interested heading into next week?