HAPPY TUESDAY TO THE STREET
BMW (BMW) is beaming Spider-Man ads onto the dashboards of cars people already bought.
Tap the banner now showing on the screens of every vehicle made post-2020. You’ll see a full-screen animation, ambient lighting synced to the action, and a reminder that the movie is in cinemas. BMW insists, hilariously, that this is not advertising.
With great power comes great responsibility. Here you have what happens when you abuse it.
🟩 | US stocks rose sharply again today, extending a rally driven by sliding oil prices and growing optimism in the Middle East. The DJIA notched another record close, as did the S&P 500, finishing above 7,700 for the first time.
📈 | One Notable Gainer: Wayfair (W) popped around 30% after guiding current quarter revenue growth well above consensus.
📉 | One Notable Decliner: Vehicle software maker Aptiv (APTV) slumped more than 15% after cutting its 2026 revenue guidance. Or maybe the BMW ad backlash is reaching pick-and-shovels too…
— Brooks & The Street Sheet Team
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MARKET SNAPSHOT
S&P 500 Heatmap. Credit: Unusual Whales
WHAT WILL SPACEX SAY ON ITS EARNINGS CALL?
Traders are not wagering on whether SpaceX (SPCX) beats numbers tonight. They are wagering on which words come out of Elon Musk's (historically unpredictable) mouth.
Market Movers
PALANTIR, AMAZON, ZEBRA
📈 | Palantir (PLTR) ripped higher on Q2 results powered by a nearly 150% surge in US commercial revenue.
📉 | Amazon (AMZN) fell after Jeff Bezos filed to sell about 15M shares worth roughly $4.1B.
📈 | Zebra Technologies (ZBRA) surged after lifting its full-year adjusted earnings guidance.
📉 | NRG Energy (NRG) tumbled after Q2 adjusted earnings of $1.49 per share missed consensus.
📈 | Caterpillar (CAT) climbed after guiding to mid to high teens sales growth for 2026.
Tomorrow's Trade Idea, Today
DRAM’D IF YOU DO
Stock Spotlight
Stock: Apple (AAPL)
Firm: Phillip Capital
Current Price: $309
Price Target: $290
Implied Downside: -6%
Looking for more upside? Street Sheet Research members get 3 stock picks from the Top 30% of analysts with 30%+ implied upside each week. Subscribe today.
Total Recall
Memory prices are climbing and Apple's margins are strapped in for the ride.
Analyst Helena Wang cut the iPhone maker to Reduce, arguing that rising memory costs will outrun otherwise healthy demand for the iPhone 17 and MacBooks.
The DRAM Squeeze
Wang calls memory inflation the main margin headwind, with management expecting prices to keep climbing in 4Q26 and beyond.
Cheaper carry-in inventory, favorable product mix, and lower non-memory component costs have absorbed some of the hit, but those cushions flatten over time.
To top it off, three suppliers effectively control the DRAM market. The market forces don’t favor Apple, but it has virtually nowhere else to shop.
Not Sold Yet
Wang also flagged that Apple Intelligence still has not handed consumers a reason to upgrade. Meanwhile, regulatory friction in Europe and China, worth 44% of revenue, caps near-term monetization.
The analyst is in the minority: 32 analysts rate it Buy or Strong Buy, 13 say Hold, and just 3 say Underperform. But shares have been in the red since the guidance cut… one memory Apple bulls would rather not store.
Do you own any shares of Apple (AAPL)?
OVERHEARD ON THE STREET
🛢️ | Treasury Secretary Scott Bessent said the US and Iran could reach a deal within days to reopen the Strait of Hormuz.
💼 | US job openings fell to 7.36M in June from 7.54M in May, in line with economist expectations.
🌯 | Chipotle (CMG) shares fell after pulling jalapenos from Minnesota restaurants over a possible link to a salmonella outbreak.
🏦 | Capital One (COF) said in a court filing that it closed President Trump's accounts in 2021 after its anti-money-laundering team flagged the activity.
🚀 | Traders have piled into more than 450K SpaceX $330 calls expiring Friday, a strike nearly 3x the current price, and options desks think one large institution is behind the buying.
MONDAY'S POLL RESULTS
Do you own any shares of Circle Internet Group (CRCL)?
▇▇▇▇▇▇ 🐂 Yup, I'm holding
▇▇▇▇▇▇ 🐻 Nope, not interested
▇▇▇▇▇▇ 👀 No, but I'm interested
And, in response, you said:
🐂 Yup, I'm holding — “I'm holding but not sure for how long yet. While I don't have much, the shares have proven to be MEH....... and have lost 60% of the value! Will probably cut and run soon to put into more viable assets.”
🐻 Nope, not interested — “Around and around, we go. No.”
