SpaceX (SPCX) just did the opposite of what rockets are built to do: it came back down to earth. Shares slipped today below their $135 IPO price for the first time, a more than 40% drop from the post-debut high set barely a month ago. For a stock that briefly touched a $2T valuation, gravity is proving to be the real winner.

— Brooks & The Street Sheet Team

The House just voted 308 to 117 to make daylight saving time permanent. The catch: the Sunshine Protection Act still has to clear the Senate, where a similar bill died in 2022. Bettors are warming to it, but the clock is, fittingly, still ticking.

📈 | Apple (AAPL) rose to a fresh high after Apple Intelligence cleared a major regulatory hurdle in China.

📉 | Micron (MU) slid as memory stocks pulled back on fears of intensifying Chinese competition.

📈 | Lucid Group (LCID) rebounded after denying reports it is weighing bankruptcy.

📉 | Pentair (PNR) tumbled after preliminary Q2 results missed Wall Street estimates.

📈 | BlackRock (BLK) jumped after topping earnings estimates.

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UBS is doubling down on surging chipmaker Advanced Micro Devices, maintaining its Buy rating and lifting its target, as the firm keeps reeling in marquee buyers.

Analyst Timothy Arcuri expects Amazon (AMZN) to be a major MI450x customer, and now thinks Anthropic could join a roster already anchored by AMD's OpenAI deal.

Arcuri's supply-chain checks came back very bullish.

Capacity constraints at Taiwan Semiconductor (TSM), which handles vital packaging for AMD's AI accelerators, appear to be easing, with a notable uptick in allocation heading into 2027.

The analyst also floated a possible Cerebras (CBRS) partnership on fast inference and a deeper push into custom data-center chips, a market it has barely tapped.

Wall Street is already onside: 45 of 55 analysts covering the stock rate it Buy or Strong Buy.

Shares have more than doubled in three months, and AMD hosts its Advancing AI event next week. Arcuri isn't betting against a chipmaker on a heater.

🛢️ | US forces launched a fresh wave of strikes on Iran, with President Trump vowing to hit power plants and bridges next week absent a deal.

📉 | US producer prices fell 0.3% from May to June on plunging energy costs, the biggest drop since April 2025.

🚀 | Anthropic is lining up investor meetings for a possible IPO as soon as October, with Goldman Sachs (GS), Morgan Stanley (MS) and JPMorgan (JPM) leading the offering.

⚖️ | A group of 26 Meta (META) employees sued the tech giant, alleging it used AI systems to select layoff targets and disproportionately hit workers on medical and parental leave.

💰 | Warren Buffett accelerated his giving, donating nearly $6B to four family foundations and aiming to shed all his Berkshire (BRK.B) shares within eight years.

Do you own any shares of RXO Inc (RXO)?

▇▇▇▇▇▇ 🐂 Yup, I'm holding

▇▇▇▇▇▇ 🐻 Nope, not interested

▇▇▇▇▇▇ 👀 No, but I'm interested

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