Micron earnings lift chip stocks; AI darlings stumble on margin fears — June 25, 2026
S&P 500 -0.10% · Nasdaq -0.43% · Dow +0.35% · VIX 18.6 — June 25, 2026
Micron's earnings call calmed the AI jitters enough to keep the Nasdaq from a worse day, but breadth tells the real story: 73 of the top 100 most active stocks fell. The S&P 500 eked out a -0.10% loss while the Dow managed a modest +0.35% gain—a market that can't decide whether to celebrate or worry.
Cerebras Systems took the day's ugliest hit, down 19.6%, after guiding to lower margins despite landing major AI cloud deals. That's the paradox haunting hardware makers right now: volume doesn't matter if you're squeezing margin to get it. Quantum stocks—Rigetti, D-Wave—cratered 8% on the day, suggesting the euphoria from recent space initiative announcements (Infleqtion's 19% jump yesterday) is already fading. Even Rocket Lab, which posted record production speed, couldn't hold gains past the headlines.
The bright spots were thin. Sunrun jumped 12.6% on a Tesla partnership for flexible power capacity. Rocket Companies rocketed 9.4% on refinancing-driven mortgage optimism. But with Morgan Stanley retargeting utilities and Schwab/Cboe pushing into prediction markets—moves designed for a lower-velocity trading environment—the market is pricing in something closer to a slowdown than acceleration.
No insider cluster buys today to read the room. But the breadth ratio says money is rotating out of expensive momentum plays into steadier ground. That's not a vote of confidence in the rally.
Market commentary generated from the day's data and headlines — not investment advice.
Biggest moves today
- CBRS (Cerebras Systems Inc.) ▼ -19.61% at $182.26 on 20.5M shares — Cerebras Systems (CBRS) Is Down 22.3% After Guiding To Lower Margins Amid Major AI Cloud Deals (Simply Wall St.)
- NVTS (Navitas Semiconductor Corporati) ▼ -14.39% at $18.32 on 33.9M shares — AlpSemi Raises €17 Million to Scale Next-Generation Solid-State Circuit Breaker Power Switches for Buildings and AI Data Centers (Business Wire)
- RUN (Sunrun Inc.) ▲ +12.57% at $14.42 on 52.6M shares — Stock Market Today, June 24: Sunrun Jumps After Announcing Deal With Tesla and Renew Home for 16 Gigawatts of Flexible Power (Motley Fool)
- INFQ (Infleqtion, Inc.) ▼ -11.65% at $14.10 on 22.1M shares — Infleqtion (INFQ) Is Up 19.3% After Launching Quantum Space Initiative With Key US Partners (Simply Wall St.)
- RKLB (Rocket Lab Corporation) ▼ -10.21% at $85.41 on 26.0M shares — RKLB Stock Jumps Overnight: Rocket Lab Says Electron Production Line Is ‘Pumping Out A Rocket Every 11 Days’ (Stocktwits)
- ONDS (Ondas Inc) ▼ -9.96% at $7.68 on 72.0M shares — Lockheed Martin (LMT) Lands $35 Billion THAAD Deal And Expands Counter Drone Ties (Simply Wall St.)
- RKT (Rocket Companies, Inc.) ▲ +9.35% at $14.73 on 58.0M shares — Rocket Companies Jumps 13%, Opendoor Climbs 5% on Refinancing-Driven Housing Rebound (24/7 Wall St.)
- MSTR (Strategy Inc) ▼ -9.35% at $94.13 on 39.1M shares — Why Did MSTR, PLTR, NFLX Stocks Plummet To 52-Week Lows? (Stocktwits)
- RGTI (Rigetti Computing, Inc.) ▼ -8.22% at $19.53 on 34.8M shares — Rigetti Computing, Inc. (RGTI) Sees a More Significant Dip Than Broader Market: Some Facts to Know (Zacks)
- QBTS (D-Wave Quantum Inc.) ▼ -8.19% at $22.98 on 31.7M shares — Why D-Wave Quantum Stock Just Crashed (Motley Fool)
Most active by volume
| # | Ticker | Price | Change | Volume |
|---|---|---|---|---|
| 1 | AAL | $17.44 | +8.05% | 207.2M |
| 2 | SOFI | $17.31 | +0.12% | 119.1M |
| 3 | NVDA | $199.00 | -0.50% | 149.0M |
| 4 | INTC | $131.65 | -0.48% | 101.7M |
| 5 | NOK | $13.81 | +0.80% | 89.0M |
| 6 | PATH | $10.31 | +1.48% | 77.9M |
| 7 | SPCX | $154.54 | -1.01% | 74.8M |
| 8 | ONDS | $7.68 | -9.96% | 72.0M |
| 9 | PFE | $24.04 | -2.75% | 75.2M |
| 10 | KEEL | $6.12 | -7.27% | 66.4M |
| 11 | RKT | $14.73 | +9.35% | 58.0M |
| 12 | AMZN | $234.27 | +0.07% | 62.4M |
| 13 | GRAB | $3.49 | +0.87% | 51.8M |
| 14 | RUN | $14.42 | +12.57% | 52.6M |
| 15 | PLUG | $2.61 | -3.69% | 53.0M |
| 16 | MU | $1048.51 | -0.31% | 57.3M |
| 17 | JOBY | $9.28 | -2.83% | 50.5M |
| 18 | MARA | $14.00 | -4.76% | 51.4M |
| 19 | F | $13.84 | -1.14% | 51.2M |
| 20 | SMCI | $32.45 | -2.61% | 49.7M |
| 21 | KVUE | $18.80 | +2.12% | 43.3M |
| 22 | SNAP | $4.53 | +1.57% | 42.6M |
| 23 | RIG | $5.04 | -4.73% | 42.3M |
| 24 | T | $22.37 | -1.93% | 42.2M |
| 25 | PLTR | $113.50 | -2.74% | 45.6M |
Market data from Yahoo Finance; insider data from SEC EDGAR Form 4. For research only — not investment advice. Verify on the official source before trading.
Put this to work
Screen live SEC Form 4 purchases with the insider cluster-buy screener, or open a company dashboard: