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Disappointing results and outlooks from major tech companies, alongside concerns that heavy AI infrastructure spending may not deliver sufficient returns, have fueled a broad risk-off mood and pressure on the S&P 500. Traders are divided between calling it the start of a deeper AI-led correction and viewing the selloff as a buying opportunity.

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center and AI (DCAI), Intel Foundry Services (IFS), and All Other. The CCG segment consists of platforms designed for notebooks, 2-in-1 systems, desktops, tablets, phones, wireless and wired connectivity products, and mobile communication components. The DCAI segment delivers solutions to cloud service providers and enterprise customers, along with silicon devices for communications service providers and high-performance computing customers. The IFS segment refers to full stack solutions created from the foundry industry ecosystem. The All Other segment represents results from other non-reportable segments and corporate-related charges. The company was founded by Robert Norton Noyce and Gordon Earle Moore on July 18, 1968, and is headquartered in Santa Clara, CA.

Intel Corp.

Intel Corp

Intels weaker fourth-quarter outlook, citing soft PC demand and supply constraints, drove a sharp selloff despite stronger-than-expected quarterly results. Traders are split between viewing the drop as an overreaction and buying the dip, and seeing the guidance and execution risks as signs of further weakness.

Invesco QQQ Trust Series 1 - Invesco QQQ Trust Series 1

QQQ is under pressure after Amazons heavy AI infrastructure spending and Intels weak outlook intensified concerns about tech-sector earnings and whether AI investment will generate adequate returns. Traders are debating whether the selloff signals a broader AI-trade unwind or a buying opportunity, with panic over further losses competing with calls to buy the dip.

Amazon.com, Inc. is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment offers retail sale of consumer products, including from sellers, advertising, and subscriptions services through North America-focused online and physical stores. The International segment focuses on retail sale of consumer products, including sellers, advertising, and subscription services through internationally focused online stores. The AWS segment is composed of global sales of computers, storage, databases, and other services for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.

Amazon.com Inc.

Amazon.com Inc

Amazons quarterly results and outlook drew scrutiny as slight revenue and earnings misses, heavy AI infrastructure spending, and weaker cash flow fueled a sharp selloff. Traders are divided: some see spending and uncertain returns as a risk, while others argue strong AWS growth supports the investment and view the drop as an overreaction.

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU) and Compute & Networking. The Graphics segment includes GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, Quadro and NVIDIA RTX GPUs for enterprise workstation graphics, virtual GPU, or vGPU, software for cloud-based visual and virtual computing, automotive platforms for infotainment systems, and Omniverse Enterprise software for building and operating metaverse and 3D internet applications. The Compute & Networking segment consists of Data Center accelerated computing platforms and end-to-end networking platforms including Quantum for InfiniBand and Spectrum for Ethernet, NVIDIA DRIVE automated-driving platform and automotive development agreements, Jetson robotics and other embedded platforms, NVIDIA AI Enterprise and other software, and DGX Cloud software and services. The company was founded by Jen Hsun Huang, Chris A. Malachowsky, and Curtis R. Priem in April 1993 and is headquartered in Santa Clara, CA.

NVIDIA Corp

Weak Amazon results and Intel guidance have intensified a broader AI and semiconductor selloff, prompting debate over whether hyperscaler spending will generate adequate returns; some traders counter that ongoing cloud growth and investment still support chip demand. The community is also discussing allegations linking a Singapore cloud customer to Chinese intelligence, which Nvidia has rejected as a concern about ordinary business dealings.

Iovance Biotherapeutics, Inc. engages in the development and commercialization of cell therapies using autologous tumor-infiltrating lymphocytes (TIL) for the treatment of cancer. Its products include Amtagvi (lifileucel), and Proleukin (aldesleukin). The firm also develops investigational TIL therapies for other solid tumor cancers. The company was founded by Robert T. Brooke on September 17, 2007 and is headquartered in San Carlos, CA.

Iovance Biotherapeutics Inc

Updated lifileucel lung-cancer trial results drove a sharp selloff: the overall response rate was broadly in line with the prior update, while a small, retrospectively identified biomarker subgroup showed a much higher response rate. Traders are split between viewing the subgroup as a promising precision-treatment strategy and worrying that it leaves regulatory approval, the addressable market, and the timeline less certain; many also criticized managements presentation of the data.

Sandisk Corp. engages in the development, manufacture, and provision of storage devices and solutions based on NAND flash technology. Its products include solid state drives, memory cards, and USB flash drives. The company was founded on February 5, 2024 and is headquartered in Milpitas, CA.

Sandisk Corp

SanDisks strong quarterly results and raised outlook, alongside its announced 8-for-1 stock split, dominate discussion. Traders are debating the sharp selloff despite the beat: some blame broader tech and AI risk-off sentiment or profit-taking, while bullish voices point to robust data-center demand and question whether the market reaction reflects the companys fundamentals.

Trump Media & Technology Group Corp. engages in operating social media and in the technology business. Its brands include TRUTH Social, TMTG+, and TMTG News. It operates through the Media and Truth.Fi segments. The Media segment includes products and services such as advertisement through the Truth Social platform. The Truth.Fi segment relates to customized exchange-traded funds or exchange-traded products invested in America First principles, and bitcoin and similar cryptocurrencies or crypto-related securities. The company was founded on March 28, 2024 and is headquartered in Sarasota, FL.

Trump Media & Technology Group Corp.

DJT is drawing attention amid a steep selloff and repeated new lows, with many traders questioning the companys business prospects and calling the stock overvalued, while a smaller bullish group sees possible rebound potential. The debate also centers on midterm-election uncertainty and how a change in congressional control could affect Trump and the company.

Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, AppleCare, iCloud, digital content stores, streaming, and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak in April 1976 and is headquartered in Cupertino, CA.

Apple Inc

Apples resilience as investors rotate away from AI-heavy tech into a perceived safe haven is the dominant topic, with many traders describing it as an anti-AI hedge supporting the broader market. Bulls see defensive appeal and limited AI spending as strengths, while bears cite a stretched valuation, upcoming earnings risk, and concerns about new-device demand and quality.

SELLAS Life Sciences Group, Inc. is a clinical stage biopharmaceutical company, which engages in the development and commercialization of immunotherapeutic for cancer indications. Its product pipeline includes galinpepimut-S. The company was founded by Angelos M. Stergiou on April 3, 2006 and is headquartered in New York, NY.

SELLAS Life Sciences Group Inc

SELLASs REGAL Phase 3 trial reaching its 80-event milestone has shifted attention to database lock, unblinding and the expected topline survival results. Bulls see the prolonged trial and milestone as encouraging and speculate about a deal, while skeptics stress that the event count does not establish GPS efficacy and that the readout remains a high-risk binary catalyst.

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Freshworks' Torii Acquisition: Can AI Spend Governance Drive Growth?

FRSH plans to acquire Torii to expand Freshservice into SaaS management and AI spend governance, targeting enterprise demand and deeper customer growth.

Freshworks To Expand Freshservice With Torii Acquisition

(RTTNews) - Freshworks Inc. (FRSH), a provider of customer and employee experience software, on Monday said it has agreed to acquire Torii, a software management platform, to expand its Freshservice offering into software management and artificial intelligence (AI) spending gover...

Why Freshworks Stock Bumped Higher Today

Key PointsIt'll replace a healthcare company that's being acquired...

Atlassian Stock Surges 85% in 3 Months: Time to Hold or Book Profits?

TEAM's 84.9% three-month surge reflects strong AI adoption and cloud growth, but rising AI costs and a premium valuation warrant caution.

TEAM Trades at Premium Valuation: Time to Hold or Fold the Stock?

Atlassian's AI investments, slower ARR growth and strong competition pressure on profitability, while its premium valuation adds risk.

Freshworks (FRSH) Q2 2026 Earnings Call Transcript

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FRSH Q2 Earnings Call Highlights EX Growth and AI Monetization

Freshworks leans on EX growth and AI adoption after a Q2 beat, lifting its 2026 outlook as profitability and share buybacks strengthen.

Freshworks Inc. (FRSH) Surpasses Q2 Earnings and Revenue Estimates

Freshworks (FRSH) delivered earnings and revenue surprises of +30.77% and +1.65%, respectively, for the quarter ended June 2026. Do the numbers hold clues to what lies ahead for the stock?

Freshworks Gears Up to Report Q2 Earnings: Here's What to Expect

FRSH heads into Q2 earnings with estimated revenue growth of 14.1%, backed by EX momentum and cost discipline as CX growth stays muted

TEAM's Service Collection Tops $1B: Is Growth Set to Accelerate?

Atlassian's Service Collection tops $1B ARR as AI gains, enterprise adoption and cloud migration broaden its growth runway amid stiff competition.

Freshworks, Inc. is a software development company, which engages in software-as-a-service products. Its products include Freshdesk, Freshservice, Freshsales, Freshmarketer, and Freshteam. The company was founded by Rathna Girish Mathrubootham and Shanmugam Krishnasamy in 2010 and is headquartered in San Mateo, CA.

Freshworks Inc - Ordinary Shares Class A

Michael Burry Posts New Software Thesis: Which SAAS Stocks Show Promise As Per His ‘Castle, Stone, Chapel’ Matrix?

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<ul class="summary-bullets"><li>Burry will&nbsp;analyze&nbsp;software stocks in a six-part series, the first of which focused on office software companies and was published last week.</li><li>“The Big Short” investor has developed a proprietary&nbsp;metric&nbsp;for earnings and&nbsp;the&nbsp;threat from AI.</li><li>Broadly, his thesis is that companies with heavy per-seat exposure or ties to disrupted SMBs face major risks, while a strong niche client base provides a protective moat.</li></ul>In the first of an ongoing series of analyses on the software industry, noted investor Michael Burry&nbsp;<a class="st-link-external" target="_blank" rel="noopener noreferrer nofollow" href="https://substack.com/home/post/p-198057116">highlighted</a> Freshworks and Paycom Software as names he believes are fairly valued, relatively defensive against AI disruption, and supported by disciplined business operations.Beyond those, Burry said Salesforce, ServiceNow, Paylocity, and Monday.com are showing promise, though he added that further price action and execution will determine whether they ultimately become attractive buying opportunities.By contrast, he argued that Workday and HubSpot should be avoided altogether, citing what he sees as significant AI disruption risk and valuations that remain far above their intrinsic value.<h2 class="st-heading-2">Burry Ranks SAAS Stocks</h2>Burry has ranked the so-called “office software” stocks on two metrics: a proprietary "owners’ earnings" framework, which strips out stock-based compensation (SBC) abuse and adjusts for uneconomic depreciation and amortization (D&amp;A) policies, un-normalized tax rates, non-cancellable purchase obligations, and capital lease payments.&nbsp;The second is AI Competitive Threat (AICT), which categorizes companies into risk tiers (such as Castle, Stone, and Chapel) based on their vulnerability to native AI threats.Broadly, his thesis is that companies with heavy per-seat exposure or those serving highly disrupted small-and-medium-sized businesses (SMBs) face acute headwind risks. Conversely, a strong "database-of-record" acts as a protective moat against these threats.&nbsp;Burry said he will analyze 46 software and payments stocks (the SW46) over a six-part series. Here is select commentary about the SAAS stocks he discussed in his latest blog:Paycom Software (PAYC)&nbsp;- Strong Stone, almost CastlePossesses a resilient moat through its database-of-record interfacing with regulatory agencies, which works in Paycom’s favor as a defense against AI threat.Freshworks (FRSH)&nbsp;- ChapelThe Chapel rating reflects seat-loss exposure, which is partially offset by its internal AI initiatives and budget-friendly attacker stance.&nbsp;Monday.com (MNDY) - StoneIts small-size customer base is highly vulnerable to replacement by horizontal agentic AI players, while severe "SBC abuse" destroys its capital-efficiency profile.Salesforce (CRM)&nbsp;- ChapelFaces acute AI-seat and replacement risk, exemplified by Klarna terminating its relationship. Meanwhile, its massive $50 billion buyback program is viewed as "essentially a wash" because the shares are being repurchased close to true intrinsic value.Paylocity (PCTY) - ChapelAI-era headcount reduction risks are meaningfully offset by a defensible database-of-record spanning thousands of tax jurisdictions.ServiceNow (NOW)&nbsp;- ChapelThe business is actively on the attack and growing, but is strictly categorized as a "show-me story" before earning conviction.HubSpot (HUBS) - StoneStrongly avoided. It suffers from acute AI risk exposure because its core SMB customer base is heavily disrupted by AI.Workday (WDAY) - StoneStrongly avoided and ranked near the absolute bottom. Its legacy business model leaves it highly exposed to AI-driven seat loss, with added pressure after Klarna ended its contract.&nbsp;For updates and corrections, email newsroom[at]stocktwits[dot]com.Read Next:&nbsp;<a href="https://stocktwits.com/news-articles/markets/equity/bill-ackman-swaps-googl-stake-for-new-msft-position-clarifies-sale-not-a-bet-against-search-giant/cZXr5jkRelO">Bill Ackman Swaps GOOGL Stake For New MSFT Position, Clarifies Sale Not a Bet Against Search Giant</a>&nbsp;

Michael Burry attends the premiere of "The Big Short" at Ziegfeld Theatre on November 23, 2015 in New York City. (Photo by Dimitrios Kambouris/Getty Images)

Freshworks and Paycom Software show promise, while Workday and HubSpot should be avoided altogether.

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Fed decision day is here - Kevin Warsh chairs his first FOMC meeting with markets pricing a hold at 3.50%-3.75% but watching for a hawkish shift. Vote on what you expect to be decided today, then drop your prediction for the first rate cut or hike in the comments.

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