๐ Week Wrap: $INTC -13% for the week, $NFLX -9% on earnings โ $TSLA next on deck
Intel $INTC cratered 13% this week, closing around $95 โ now 33% off its June peak of $142 โ as 18A foundry yield delays and AMD stealing data-center share piled on. Netflix $NFLX dropped ~9% on Q2 earnings after Q3 revenue guidance of $12.86B missed Wall Street's $13B target, and the company cut engagement data reporting to once a year. The Nasdaq shed 1.4% Friday to 25,520 and the S&P 500 slipped 1% to 7,457, with the semiconductor index officially in bear-market territory (-20% off its June high). Tesla $TSLA reports Q2 earnings Wednesday July 22 after the bell โ will it steady the ship or add fuel to the sell-off? Not financial advice.