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🚨 $RDDT: At least 18 firms cut price targets today The concern: Google search referrals are falling, and Reddit’s planned shift toward a logged-in experience adds uncertainty. Rating downgrades • Oppenheimer: Outperform → Perform • KeyBanc: Overweight → Sector Weight • Citizens/JMP: Market Outperform → Market Perform Bulls still cut • Truist: $275 → $210 | Buy • B. Riley: $270 → $190 | Buy • Citi: $245 → $186 | Buy • Guggenheim: $255 → $170 | Buy • Deutsche Bank: $200 → $165 | Buy • Raymond James: $205 → $150 | Strong Buy • Needham: $300 → $150 | Buy ← halved, still Buy • Wedbush: $221 → $150 | Outperform • Piper Sandler: $195 → $145 | Overweight Neutral / Hold • JPMorgan: $185 → $150 | Neutral • Baird: $185 → $150 | Hold* • Goldman Sachs: $215 → $140 | Neutral • BofA: $190 → $135 | Neutral • Bernstein: $180 → $120 | Market Perform • Cantor: $170 → $120 | Neutral • Wells Fargo: $142 → $110 | Equal Weight

🚨 $INTC’s post-earnings reset: 27 firms cut price targets today Downgrades • BofA: Buy → Neutral | $145 → $100 • Roth Capital: Buy → Neutral | $120 → $70 Other big cuts • Goldman Sachs: $150 → $100 | Neutral • Baird: $125 → $83 | Neutral • Cantor Fitzgerald: $125 → $90 | Neutral • Rosenblatt: $80 → $70 | Sell Even the bulls cut • KeyBanc: $155 → $140 | Overweight • Evercore ISI: $133 → $131 | Outperform • Citi: $130 → $100 | Buy • StoneX: $140 → $100 | Buy • Northland: $120 → $93 | Outperform The lone upgrade • KGI: Neutral → Outperform | $95 target What is your conviction for Intel now?

Are you buying the dip or dipping from the market today? Choose wisely.

🚨 Intel’s earnings shock is spilling into credit markets Intel’s five-year CDS widened to 123.5 basis points at 10:19 ET. Why it matters: The cost of insuring Intel’s debt against default has risen, which suggests concerns extend beyond near-term earnings to its ability to meet debt obligations. That is a warning signal. What to watch: Whether credit spreads stay elevated or widen further over the coming sessions, alongside any changes in cash flow, liquidity, or access to financing. $INTC is 53% off its June high. Buying here, or waiting for credit to calm down first?

"Can someone tell me why the market is selling off so hard today?" Short answer: The selling is concentrated in tech and chips, and the trigger is a semiconductor earnings and outlook shock. Intel led it, and Kioxia’s warning that NAND price increases are stalling made it worse. Investors are cutting their expectations for future chip profits even though recent AI demand has been strong. Here are two main catalysts: 1. Intel undermined confidence in the recovery Q4 adjusted EPS guidance: $0.25, vs $0.52 in Q3 Q4 adjusted gross margin guidance: 38%, vs 44.1% Management expects PC weakness to last through at least the first half of 2027 → This raises concerns about chip demand and profitability beyond Intel. 2. Kioxia challenged the memory-pricing story Bloomberg reports that its operating-profit outlook missed estimates. The outlook implies nearly flat sequential NAND prices, after much faster increases. → That threatens the earnings assumptions behind memory and storage stocks, including Sandisk. 📷Bloomberg My read: Investors are questioning how much of the recent AI-driven profit surge can last. Chips are falling much faster than the broad market while energy rises. That points to concentrated tech selling and rotation. Intel is the clearest immediate trigger, but it doesn’t explain every stock’s decline.

Amazon’s $AMZN earnings report is out. AWS growth accelerated to 39.3%, and Amazon reported a record 13.9% operating margin. The cash burden remains substantial: trailing free cash flow was negative $42.4B, while the 2026 cash spending plan stayed at roughly $220B. That supports a more positive view of operating performance, although investment returns still the main financial question.

Intel’s $INTC earnings report is out: Revenue rose 21% to $16.5B, with data-center revenue up 78%. The concern is the outlook: Q4 adjusted gross margin is guided to 38%, down from 44.1% in Q3, and management expects the PC slowdown to last at least through the first half of 2027. Strong server demand is helping, but the profit recovery remains uneven.

$NOW is down 27.39% today. FinTwit can’t agree on $NOW: AI winner or slowing grower? Yesterday’s report gave investors evidence for both views. Why bulls are buying: Q3 subscription revenue grew 20.5% at constant currency. Management raised its year-end AI annual contract value target from $1.5B to $1.7B, and increased its full-year adjusted free cash flow margin guidance to 36%. Some investors sees those improvements as evidence that the business remains strong. Why bears are worried: Q4 growth guidance for cRPO, contracted revenue expected to be recognized over the next twelve months, is 18.5%, vs 21% in Q3, both at constant currency. Investors watch that measure for clues about future revenue. The concern is that impressive AI growth still isn’t enough to accelerate the whole company. The complication: Management says some renewals happened early in Q3, while certain on-premise contracts and contracts with cancellation provisions don’t enter cRPO the same way. Those effects weaken the indicator without necessarily weakening revenue. Indeed, Q4 subscription revenue growth guidance is 21.5% at constant currency. My perspective: The report gives me more confidence in AI monetization than in an imminent acceleration of overall growth. The cRPO slowdown deserves attention, but treating all of it as deteriorating demand ignores the contract details. I also wouldn’t extrapolate the improved cash flow margin too aggressively. Management attributed the increase to lower capital spending, while its operating margin guidance stayed unchanged. So I’m more constructive on the business. To call the stock a bargain, though, I’d want the valuation to work assuming sustained high-teens growth with AI acceleration providing upside.