U.S. stocks sold off today, even as Nvidia and a few other tech giants stayed in the green. Despite the broader selloff, the Stocktwits community continues to find opportunities on the long side as the overall bullish tone remains. 👀

Today's issue covers Micron moving the semi sector, two big names’ new all-time highs, and why there may be trouble brewing in paradise (OpenAI). 📰

Here’s the S&P 500 heatmap. 2 of 11 sectors closed green, with utilities (+0.53%) leading and energy (-1.96%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $KMX, $LSPD, $MU, $MDAI, $NNDM 📉 $SFIX, $CNXC, $TMDIF, $LUV, $QURE*

*If you’re a business and want to access this data via our API, email us.

Investors came into today with some semiconductor scaries, hoping that Micron Technology wouldn’t disappoint and drag the group lower. Luckily for them, the company delivered and is adding momentum to the rebound that’s recently started across the semi industry. 👍

Analysts expected the memory-chip maker to deliver $7.65 billion in revenue, which it topped at $7.75 billion (up 14% QoQ and 93% YoY). Adjusted earnings per share of $1.18 also topped the $1.11 consensus estimate and compared to a significant loss this quarter last year.

As for guidance, management expects $8.50 to $8.90 billion in revenue for the first fiscal quarter, above the $8.30 billion Wall Street view. Its adjusted earnings guidance of $1.74 also topped the $1.52 consensus view. 🔮

Overall Micron CEO Sanjay Mehrotra said that artificial intelligence demand “drove a strong ramp of our data-center DRAM products and our industry-leading high-bandwidth memory.” Also, its NAND memory business topped $1 billion in quarterly revenue for the first time.

Investors were happy to hear that Micron is positioned to capitalize on the AI boom more than initially expected. Shares popped 15% after hours, and Stocktwits sentiment in ‘bullish’ territory suggests the community is looking for further upside in Micron and its peers. 🐂

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Although the stock market indexes were down today, we can always count on the Stocktwits community to find stocks bucking that trend.

Flutter Entertainment ($FLUT) surged to new all-time highs after raising its U.S. sportsbook market growth outlook through 2027 and saying its global TAM could hit $368 billion in gross gaming revenue by 2030. Additionally, it announced a $5 billion stock buyback plan. 🎰

Lowes Companies ($LOW) surprisingly beat Home Depot to new all-time highs, as rate-cut-related plays continue to catch a bid. As for today’s catalyst, Oppenheimer analyst Brian Nagel upgraded the stock from ‘Perform’ to ‘Outperform’ and raised his price target from $230 to $305. He cited “clearer skies ahead for home improvement” after a long sales slump. ⚒️

As the chart below shows, both stocks made new all-time highs as they attempted to emerge from multi-year bases. Technical analysts love this type of pattern because the risk is very well-defined, and it shows buyers’ willingness to own the stock at a price never paid before…

Speaking of all-time highs, Meta printed its own record today as investors digested the announcements from its ‘Meta Connect’ event. Zuckerberg provided updates on current products and initiatives while also giving investors a look into the future with its Orion AR glasses. 🤓

Everyone is clamoring for a piece of the OpenAI pie, with the company nearing the largest VC fundraising round of all time…attempting to raise $6.50 billion at a $150 billion valuation. And it’s still oversubscribed! 😵‍💫

But while outsiders are trying desperately to get in, insiders continue to flee the company.

The latest executive exit is CTO Mira Murati, who announced today that she’s leaving the company after six-and-a-half years. In her message, she says she is stepping away “because I want to create the time and space to do my own explorations.” 👇

Explanation and optics around her resignation aside, the number of high-profile exits from the company during its controversial growth path is raising eyebrows. 🤨

OpenAI chief scientist and co-founder Illya Sutksever left in May to start a new firm dedicated to safer AI. Fellow OpenAI co-founder John Schuman left in August to join rival Anthropic. And OpenAI president and co-founder Greg Brockman is currently on extended leave.

The more this situation develops, the more it looks like a bet on OpenAI is a bet on Sam Altman and his ability to execute his vision by teaming with people who agree with it. 🤷

Time will tell, but for now, the industry is monitoring OpenAI closely to see how this “brain drain” plays out.

Economic data: Durable Goods Orders (8:30 am ET), GDP Growth Rate Final Q2 (8:30 am ET), Initial/Continuing Jobless Claims (8:30 am ET), Fed Chair Powell Speech (9:20 am ET), Fed Barr Speech (10:30 am ET), Fed Kashkari Speech (1:00 pm ET), and Mexico Interest Rate Decision. 📊

Pre-Market Earnings: CarMax ($KMX), Accenture ($ACN), Ree Automotive ($REE), Moving iMage Technologies ($MITQ), and Jabil ($JBL). 🛏️

After-Hour Earnings: Costco Wholesale ($COST), BlackBerry ($BB), Aytu BioPharma ($AYTU), Vail Resorts ($MTN), and Scholastic ($SCHL). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

🧭 Concerned about election season volatility? Let IBD Digital be your guide—get 2 months for $12*

😎 ‘World’s coolest’ neighborhood for 2024 named by Time Out

🕵️ X just released its first full transparency report since Elon Musk took over

💳 FTC cracks down on DoNotPay, others for ‘deceptive AI claims and schemes’

😂 Google paid $2.7B to rehire AI genius who left after company refused to release his bot: report

⚓ OceanGate CEO Stockton Rush ‘knew’ his doomed Titan submersible would eventually kill him, close friend testifies

🤩 Chart Art: The best trade ideas and analysis from the Stocktwits community

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