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Last week, three of the market’s hottest AI stocks took a beating.
Micron Technology, Inc. (MU) fell about 14% in just five trading days. Seagate Technology Holdings plc (STX) dropped nearly 18%. And Sandisk Corporation (SNDK) tumbled almost 20%.
At first glance, it looked like investors were dumping AI memory stocks.
But that’s not what happened.
The truth is, last week’s selloff had far more to do with how Wall Street trades than with the companies themselves.
This morning’s rebound is a good reminder of that. Investors are warming back up to AI, helping lift the S&P 500 and NASDAQ higher. But there’s a reason last week’s sell-off happened, and it’s important for you to know.
It’s a pattern I’ve seen before.
Once you understand what caused it, you’ll start looking at sharp pullbacks very differently.
That’s why, in this week’s Navellier Market Buzz, I explain why last week’s AI pullback was more of a Wall Street shakeout than a warning sign. I also share which AI infrastructure stocks are next in line to buy and why I still consider Micron, Seagate and SanDisk “screaming buys” after the selloff.
Plus, I’ll also talk about what the Atlanta Federal Reserve’s recent downgrade in GDP really means, why gold is resurging and my top natural gas pick for this summer.
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The Next Turning Point Could Be Days Away
If last week’s pullback taught us anything, it’s that understanding how Wall Street moves can make all the difference.
Stocks don’t just move because of headlines. They move because money moves.
And the key is knowing whether the big money is moving in or out before the crowd figures it out.
But on July 23, that lesson could be put to the test when the second-quarter earnings season kicks into high gear.
I believe what happens that day could reveal where Wall Street is headed next.
But the real challenge is figuring out where it’s headed before everyone else does.
That’s exactly why I built my Precursor Intelligence – or P.I. for short. It’s designed to help me identify where institutional money could move next, before the rest of Wall Street catches on.
With July 23 quickly approaching, that kind of insight could become more important than ever.
In my new presentation, I’ll explain why July 23 could become a pivotal day for the market and why I’m watching it so closely. I’ll also show you how P.I. works and reveal several stocks my system says could be next in line as institutional money makes its next move.
Sincerely,
Louis Navellier
Editor, Market 360
The Editor hereby discloses that as of the date of this email, the Editor, directly or indirectly, owns the following securities that are the subject of the commentary, analysis, opinions, advice, or recommendations in, or which are otherwise mentioned in, the essay set forth below:
Micron Technology, Inc. (MU), Sandisk Corporation (SNDK) and Seagate Technology Holdings plc (STX)
