Market review from UTEX — week 45

Major U.S. indices closed the week in the red, the main reason being Friday's sell-off. The SPY lost 0.56%, while the Nasdaq was down 1.97%. Google, Amazon, and Intel reported worse than expected, raising market fears about whether rising AI infrastructure spending will pay off in the near term.

Top gainers included Eli Lilly (+11%), Gilead Sciences (+9%), SK Hynix (+8%), AstraZeneca (+8%), and KLA (+8%). Intel's weak guidance overshadowed quarterly results that beat expectations. Chipmaker stocks fell sharply. Top decliners among the largest companies: Intel (-24%), Alphabet (-12%), Caterpillar (-9%), SpaceX (-8%), and Dell (-8%). Reddit plunged 36%, and ServiceNow fell 33% after disappointing reports.

Crypto stocks also came under pressure due to the hack of crypto exchange Binance, where hackers stole $6.36 billion.

For October, the Nasdaq fell 5.3%. That is the sharpest monthly decline since March 2025, when markets crashed amid Trump's tariff policy. The S&P 500 lost 0.9% for the month. The Dow Jones gained 1.7%, recouping part of its substantial 4.3% decline in September.

According to FactSet, the Magnificent Seven posted lower earnings growth in the third quarter than the rest of the S&P 500. The projected earnings growth rate for the Mag7 fell from 33.6% to 22.6% over the past month. Meanwhile, for the rest of the index, the forecast rose from 27.8% to 32.6%.

On Monday after the close, Apple will report, and its results could support faith in the tech sector or, conversely, increase pressure on it. On Friday before the open, October jobs data will be released, which could influence the Fed's rate decision. In September, job growth was weak, and July and August data were revised downward.

Other interesting reports this week: Super Micro Computer, Advanced Micro Devices, ON Semiconductor, Arm Holdings, Lumentum Holdings, Shopify, Palantir, Vertex Pharmaceuticals, Amgen, Arista Networks, Pfizer, Qualcomm, McDonald's, Uber, Datadog, Cloudflare, Airbnb, Moderna.

Top trading ideas for this week

🔴 Apple (AAPL). Report on November 2 after market close. Last week, Apple reclaimed the top spot by market cap, narrowly ahead of Nvidia. Since the start of the year, the stock  is up 26.8%. Investors will assess orders for new devices, including new MacBook Pros on M5 chips and the company's first foldable flagship — the iPhone Duo. This will be the first report under new CEO John Ternus. Investors will evaluate how he is managing rising memory chip prices and what guidance he gives for future periods.

🔴 Voyager Technologies (VOYG). Report on November 2 after market close. Planet Labs (PL). Report on November 3 after market close. Companies from the space industry. Over six months, nearly all stocks in the sector have fallen sharply. The Tema Space Innovators ETF is down 30%. Medium-term prices look acceptable, but some signals of a reversal are needed. Larger players Rocket Lab, AST SpaceMobile, Firefly Aerospace, and Intuitive Machines will report next week. There's no need to rush — let's wait for the first signs of life.

🔴 IonQ (IONQ). Report on November 5 after market close. Quantum stocks are in the same situation as space companies. Since the start of the year, they are down 30–60%, with no signs of a reversal yet. Other stocks in the sector: D-Wave Quantum (QBTS), Rigetti Computing (RGTI), Quantum Computing (QUBT). Medium-term prices look very good, but here too we urge caution. It would be preferable to have a positive news backdrop.

🔴 Moderna (MRNA). Report on November 6 before market open. +650% since the start of the year. The main driver is the colossal success of trials of its personalized mRNA vaccine against melanoma in partnership with Merck. This is the first clinical confirmation in history of mRNA technology's efficacy against late-stage oncology, opening a multibillion-dollar market. The personalized vaccine is created individually based on the patient's tumor DNA. Investors are waiting for details from management: how the company plans to scale mass production, how much it will cost, and whether bespoke assembly will destroy overall business margins.

Citigroup downgraded Moderna to Sell in late September and cut its price target to $80 (minus 60% from current levels). Analysts believe the stock is overheated and sales expectations are inflated. We expect elevated volatility after the report.

🔴 Advanced Micro Devices (AMD). Report on November 3 after market close. Qualcomm (QCOM). Report on November 4 after market close. Arm Holdings (ARM). Report on November 4 after market close.

Key players in the semiconductor industry. Each company is trying to prove to investors that it is a beneficiary of the AI boom, but any weakness in reports could trigger sell-offs. We expect high volatility — all three companies historically move sharply after earnings. A strong gap is likely in each case.

🔴 High risk, for professionals.

Profitable deals!

[button label="Trade on UTEX" url="https://margin.utex.io/stocks-usdt/exchange?utm_medium=website&utm_source=utmedia_en&utm_campaign=post"]