AI Stocks Close
🔔 AI Stocks Close — Friday, October 30, 2026 at 2:15 PM
Closes: SPX 7,580.07 (-1.82%) · NDX 28,238.22 (-3.85%) · DJI 51,770.31 (-1.09%)
Day narrative: Intel's guidance bomb detonated under the entire semiconductor complex and nobody got out clean — chip stocks shed roughly $1 trillion in market value and the Nasdaq 100 completed a 10%+ drawdown from its peak, its third technical correction of 2026. October ends with the Dow up 1.5%, the S&P down 1.2%, and the Nasdaq Composite down 5.2% — its worst month since March 2025.
Sectors: Best Consumer Defensive (+1.38%), Energy right behind (+1.33%) · Worst Technology (-4.52%)
Movers:
• INTC -28.6% to $65.76 — Q4 guide of ~$15.5B revenue and $0.25 EPS against ~$17B/$0.43 expected; CEO Lip-Bu Tan blamed a memory crunch and soft PC demand. Worst day since July 1974. BofA cut to Neutral, PT to $100
• RDDT -29.2% to $91.73 — daily active users came in light and Q4 guidance missed
• QCOM -11.1% / AMD -10.9% / ARM -10.0% / MRVL -10.1% — pure Intel contagion; the Philadelphia semi index fell 7.2%
• XOM & CVX higher — both beat as refining margins fattened on Persian Gulf and Russia disruption; both briefly touched record highs. Brent $112, WTI $104
• NET -9.5%, MDB -8.3%, SNOW -7.3% — high-multiple software got taken out with the trash
After-hours / Earnings:
• Quiet post-close tape — Friday night rarely brings megacap prints. Today's damage came from Thursday evening's wave: Intel, Reddit, and Twilio (-17.4%) all gapped down at the open and never recovered
• AVGO -5.5% despite a DA Davidson upgrade built on Anthropic and OpenAI IPO hopes — a good illustration of how little an analyst note matters on a day like this
Watchlist:
• MU $884.79 (-5.30%)
• NVDA $204.75 (-4.17%)
• MSFT $521.97 (-1.54%)
• GOOGL $279.84 (-1.40%)
• META $614.99 (-1.53%)
• AMZN $240.51 (-1.35%)
• AAPL $344.80 (-1.18%)
• AMD $504.74 (-10.89%)
• TSLA $399.81 (-0.87%)
• PLTR $184.11 (-6.27%)
• ARM $205.91 (-9.99%)
• SMCI $32.95 (-4.30%)
• ORCL $130.67 (-6.37%)
• SOUN $4.22 (-3.21%)
• IONQ $30.04 (-5.30%)
• BBAI $2.60 (-2.62%)
• AVGO $326.08 (-5.48%)
• CRM $229.17 (-0.75%)
• ADBE $250.23 (+0.85%) — the only green on the board
• IBM $257.81 (-0.18%)
• SNOW $306.08 (-7.32%)
• MDB $352.96 (-8.31%)
• NET $280.70 (-9.54%)
• CRWD $250.43 (-4.10%)
• TSM $406.13 (-5.95%)
• ASML $1,564.92 (-6.61%)
Macro:
• St. Louis Fed's Musalem said inflation is still elevated and the Fed "needs to act soon"; Richmond's Barkin argued for higher rates against strong demand. December hike odds are building — a sentence nobody expected to write this year
• Bitcoin -5% to roughly $76,600 after a record $6.3B Binance hack; the exchange says it'll cover losses and resume withdrawals by Sunday
• Crude elevated on Middle East and Russia supply risk — Brent $112, WTI $104
• IPO watch: Anthropic filed final paperwork Monday under ticker ANT at a reported $1.5T–$2T valuation, possibly listing mid-November — H1 revenue $16.3B (up 1,300% YoY) against an $80.7B H1 loss. OpenAI is racing to close a ~$30B round at north of $1.4T ahead of it, with its own listing targeted for 2027. Neither trades yet
Tomorrow: Weekend first — next session is Monday, November 2. Palantir reports Monday after the bell (EPS est. $0.41), AMD Tuesday the 3rd (est. $1.95), Qualcomm Wednesday the 4th, with Apple and Berkshire also in a week where 755 companies over $2B report. Macro headliner is the monthly jobs report, plus ISM PMIs, JOLTS, factory orders, trade data, and prelim UMich sentiment. BoE and RBA decisions abroad.