π IBM $IBM -25%, NFLX $NFLX -10% this week β chips sink; GM, 3M earnings Mon Jul 21
It was a rough week for tech β IBM cratered 25% on a profit warning citing soft software demand, Netflix dumped 10%+ on a revenue miss, and chip stocks are down nearly 20% from their recent highs as investors worry AI hyperscalers are trimming capex. Bright spot: BlackRock $BLK surged 5%+ on a strong Q2 beat. Big week ahead: GM $GM, 3M $MMM, Danaher $DHR, and Novartis $NVS all report Tuesday morning β could be the catalyst to stop the bleeding. Not financial advice. Are you buying any of these dips or waiting for more clarity?
β‘ 19 buzzing
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