Intel fell 28.58% on Friday. ,It was the company's worst day since 1974., Intel has now been through disco, Reaganomics, and the Pentium recall, and the one thing that finally broke it was a memory chip price hike.
Think about that. A company that survived the 1970s got flattened by RAM.
,The Nasdaq lost 2.86% and closed at 25,437.00., ,For the month, it dropped 5.3%, its steepest fall since March 2025., Analysts call this a "rotation." A rotation is when you lose money but feel sophisticated about it.
Alphabet had a month too. ,Down 17.22%., ,Its worst intraday drop on record erased roughly half a trillion dollars in market value., Half a trillion. Somewhere a retail trader bought the dip on Thursday and called it conviction.
Reddit fell 29.2%. ,The cause was slowing Google search referrals and weak guidance., The website where strangers tell you to buy calls got hurt because Google stopped sending it strangers.
Meta lost 15.30% on the month. Nvidia lost 11.36%. ,Tesla gained 12.91%., Tesla, a car company valued like a religion, was the safe haven. Let that sit.
Technical analysis offers comfort here. ,Alphabet formed a "death cross.", A death cross is two lines touching. I have drawn lines touching on napkins. Nobody sold their shares because of my napkins, but I believe in them more.
Defensive stocks rose. ,Consumer staples and healthcare saw gains as investors left tech., Sensible people bought toothpaste and pills. Retail bought a chip company on a dip, then discovered the dip had a basement.
My forecast is simple. Intel will rebound, because everything rebounds right before you sell it.
Your portfolio is not diversified. It is one bad Alphabet earnings call wearing five ticker symbols.
Photo by Anne Nygård on Unsplash
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