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š Worst Week Since April 2025

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āļø GM Munchers! Tried to shake off Fridayās crash all weekend. My wifeās cure was yard work, which taught me that raking leaves and refreshing my portfolio produce the exact same back pain.
On todayās menu:
š The AI Trade Just Had Its Worst Week In Months
š± People Are Fighting Over A $2,000 Phone
š„ Own Every Major AI Stock For $38
š°ļø Elonās Satellites Are Now A War Weapon
š Nikeās Stock Performance Is Just Horrendous
Fridayās numbers:
S&P 500 | 7,659 | -1.09% |
Nasdaq | 26,140 | -2.14% |
Dow Jones | 52,002 | -0.34% |
Bitcoin | ~$80,750 | -0.77% |
BREAKING NEWS
š The AI Trade Just Had Its Worst Week In Months
Buckle up, because the party just hit a serious speed bump. On Friday, the tech-heavy Nasdaq was down as much as 3% at one point, capping its worst week since April 2025. The selling was brutal and fast. U.S. tech stocks have now erased over $3 trillion in market value in just 10 days, and the Nasdaq sits only about 2.5% away from a ācorrection,ā which is Wall Streetās word for a 10% drop from recent highs.
So what spooked everyone? After months of buying anything with āAIā slapped on it, investors suddenly got nervous about whether all that spending will ever pay off. Chip stocks fell for an eighth straight day, their longest losing streak since 2008. The real trigger was a company called CoreWeave, which rents out AI computing power. Its debt load ballooned past $51 billion, and its bonds started flashing warning signs that it might struggle to pay them back. The stock cratered around 25% on the week, and the fear spread fast.
šø The worry is simple: Companies are spending hundreds of billions building AI, and investors want proof the money will actually come back.
š¢ļø Oil didnāt help: Rising crude prices added extra pressure, since higher energy costs keep inflation sticky and yields elevated.
š Money rotated out: Investors fled pricey tech for safer corners, and the equal-weight market actually had its best week versus tech since 2009.
Now hereās why this week matters so much. Itās loaded with the exact events that could either calm the panic or pour gas on it.
š Big Tech earnings arrive: Netflix reports Tuesday, and Tesla and Meta both report Wednesday, giving the first real test of whether these giants can justify their prices.
š¦ Bank earnings keep rolling: More results land after last weekās scare over bad loans at a couple of regional banks rattled nerves.
šļø The Fed looms: The big interest rate decision hits October 28, so every word from Fed officials this week gets dissected.
The Munch Take: Hereās our honest read. A $3 trillion wipeout in 10 days sounds scary, and it is a real gut check, but this is exactly the kind of moment weāve been preparing for. The AI trade got stretched, everyone piled into the same names, and now some air is coming out. Thatās healthy, not the end of the world. Weāre not panic-sellers, and weāre definitely not catching falling knives like CoreWeave. But if this selloff keeps dragging quality names lower into this weekās earnings, thatās our shopping cue, not our exit. The companies that actually make money off AI will survive this. The ones running on hype and debt might not. Know what you own, stay calm, and keep your list ready. Red weeks are where patient investors quietly go shopping.
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STORY OF THE DAY
š± People Are Fighting Over A $2,000 Phone
Well, we were wrong about this one. Appleās first-ever foldable phone, the iPhone Duo, just sold out in minutes when preorders opened, and demand was so wild that new orders are now backlogged all the way into late January 2027. Retail stores ran out of launch-day stock almost instantly, and some lucky preorder holders are even flipping their confirmations on eBay for thousands of dollars.
Hereās the kicker: this phone is seriously expensive. The iPhone Duo starts at $1,999, making it Appleās priciest mainstream phone ever. Plenty of people, us very much included, looked at it and shrugged, figuring a $2,000 folding phone was a niche gadget most folks would skip. We could not have been more wrong. The thing is flying off the shelves faster than Apple can make them.
š¤ It shows how much money is out there: When a $2,000 phone sells out in minutes, itās a loud reminder of how much spending power still exists at the top end.
š° Pricier phones help Appleās bottom line: The Duo costs far more than the $1,199 iPhone Pro, so every one sold lifts Appleās average revenue per phone.
š The backlog shifts the timing: With deliveries slipping into 2027, a chunk of this revenue moves out of the holiday quarter and into early next year.
The Munch Take: Alright, we have to eat some crow here. We called this phone āwhateverā and figured few people would pay two grand for it, and the market just proved us completely wrong. Thatās a humbling and important lesson: never underestimate Appleās brand power or the sheer amount of money chasing a shiny new status symbol. This also helps explain why the stock has been on an absolute tear, up about 26% this year, and why Apple sits at a $5 trillion market cap, one of the most valuable companies on the entire planet. Now, hereās where we stay disciplined. A sold-out phone is great news, but Apple is already enormous and priced like it. Weāve said before that the company has leaned āboomerā on innovation, yet moments like this show the brand can still print money when it tries something new. Weāre not buyers up here at these lofty levels, but credit where itās due. We doubted the foldable, and Appleās customers just reminded us who actually runs this show. Lesson learned.
MARKET OVERVIEW
Tasty Movers & Shakers
š„ Special Report: Own every major AI stock for $38. Get paid every Thursday (Ad)
š¢ļø $XOM ExxonMobil rose 2.46% after signaling that stronger refining margins could juice third-quarter profits by $4.5 billion from the prior quarter. When oil stays high and refining pays well, the energy giants quietly rake it in.
š $TSLA Tesla fell 2.13% even after finally unveiling its long-awaited Roadster sports car. A flying car is a great show, but Wall Street wanted a price and a date, and it got neither.
š„ļø $CRWV CoreWeave extended its slide, dropping 11.91% as soaring yields on its debt stoked fears about the cost of funding its AI dreams. The AI buildout is thrilling until the bill comes due, and CoreWeaveās bill is getting scary.
šŖ $MSTR Strategy sank 9.56% after MSCI approved new rules that could boot the Bitcoin-heavy company from its global indexes starting November 30. Forced index selling is an ugly headwind, even if the Bitcoin itself stays put.
š $PLTR Palantir dropped 7.22% as its record-setting rally came undone in a broader software selloff.
š° $DKNG DraftKings fell 2.12% after the NBA and its betting partners agreed to ban certain wagers following a string of gambling scandals. Tighter rules on betting are never what a sportsbook stock wants to hear.
MARKET NEWS
š°ļø Elonās Satellites Are Now A War Weapon
Things just got tense. Ukraine says Elon Muskās SpaceX quietly slapped new speed restrictions on its military Starlink service, and the timing could not be worse. Ukraine relies on Starlink (and its military version, Starshield) to run the drones it uses to defend itself, so the new cap of about 100 miles per hour is directly hurting its ability to fight back.
Hereās where it gets messy. Musk insists it isnāt his call, saying Starshield is controlled by the U.S. government and any limits come from the military and āultimatelyā the President. Ukraineās President Zelensky isnāt buying the ātechnical glitchā line and called it a deliberate āmessage from the American government.ā Then U.S. Treasury Secretary Scott Bessent warned Zelensky to ābe very carefulā with his complaints and even dodged whether Ukraine is still a U.S. ally. And in the latest twist, the U.S. reportedly threatened major retaliation against the European Union if it moves to limit or cut off Starlink, raising the stakes even higher.
āļø Itās a pressure tactic: The limits look tied to Trumpās shaky āenergy ceasefire,ā which Russia keeps breaking, leaving hundreds of thousands of Ukrainians without power.
š Itās not a big market mover yet: The war hits markets mainly through oil, and with a wobbly ceasefire in place, crude has calmed down. Last weekās selloff was about AI and tech, not Ukraine.
š Tesla isnāt directly in it: This is a SpaceX and Starlink story, a separate company. Teslaās dip was about its vague Roadster reveal, not the war, though Muskās drama always bruises sentiment across all his companies.
The Munch Take: Hereās our read, politics aside, sticking to your money. For now this is a geopolitical headline, not a market earthquake. Watch oil, because thatās the warās real pipeline into inflation, yields, and stocks, and right now itās relatively calm. On Tesla, donāt overthink it. The weakness is about a flashy-but-empty Roadster event and a jittery tech market, not satellites over Ukraine. Still, this is the āElon factorā in action: owning any Musk stock means owning a slice of his drama. Our math doesnāt change, Tesla only gets interesting below $300, and the noise doesnāt move that line. Watch oil, tune out the shouting, and keep your list ready.
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