【Livestream Clip 4｜Selina Han: That Late-July AI Chip Selloff Wasn't Really About Earnings】
【LIVESTREAM RECAP｜2026 Q2 Earnings Review: Big Tech, AI CapEx & Why Tech Stocks Pulled Back】
Hi Tigers! In this session we took a deep dive into Big Tech's 2026 Q2 earnings, AI CapEx, and why tech stocks pulled back in late July. The flow was clear: first the macro timeline from late July into August (FOMC, payrolls, CPI, Jackson Hole), then a company-by-company read of Google, Microsoft, Amazon, Meta and Apple with their AI spend, and finally the big question everyone's asking — why did stocks fall even when earnings were strong?
Full replay 👉 2026 Q2 Earnings Review: Big Tech, AI CapEx & Why Tech Stocks Pulled Back
【ABOUT THE GUEST】
Our speaker, Selina Han@Selina_Han_Insights, is the founder of Han Insights and an independent researcher. She was the first economist at CBOE — the largest equity options exchange in the U.S. — specializing in U.S. equity markets, listed options, market structure, exchange economics and financial regulation. What makes her perspective rare: she reads markets not just from the investor side, but from the exchange and market-structure side, tying macro, earnings and the AI narrative into a framework you can actually use.
【HIGHLIGHTS】
1. Macro timeline: how FOMC, payrolls, CPI and Jackson Hole moved the tape, and the back-and-forth on rate expectations.
2. The AI CapEx scoreboard: a sentiment-driven rating of each company's AI spend (green/yellow/red lights) so you can see who's leading at a glance.
3. Strong earnings, sold off anyway: reports looked solid, yet tech stocks dropped in late July — what was really going on.
Live Recap:Live Recap 1: Why Tech Stocks Fell Despite Strong Earnings — Six Weeks That Moved the Market
Live Recap 2: The Big Tech AI CapEx Scorecard — Who's Actually Turning Spending Into Earnings
Live Recap 3: The AI Basket Broke Together — Inside the Situational Awareness Forced Unwind
Live Recap 4: Fed Policy, Jackson Hole, and What Comes Next — Q&A Highlights
【THIS CLIP】
That late-July AI chip selloff wasn't really about earnings? Selina maps each company's events onto its stock chart and finds Big Tech names moving down in strikingly similar patterns after earnings and AI CapEx updates. Why it's worth watching — she points to a "situational awareness" event most people overlooked, rather than blaming earnings, and that's the real key to understanding this pullback.
We genuinely recommend watching the full replay to fill in the market-structure and AI CapEx piece so many people overlook — it's the key to understanding this pullback. Take your time; there's more here than you'd expect.
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(For education only, not investment advice.)
Full replay 👉 2026 Q2 Earnings Review: Big Tech, AI CapEx & Why Tech Stocks Pulled Back
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几家大型科技公司财报和AI Capex更新后，股价却走出很相似的下跌节奏，这说明资金仓位、拥挤度、期权和量化交易的影响，可能比单家公司业绩更重要。很多时候，好财报不等于股价一定涨，因为市场交易的是预期差和仓位，而不是成绩单本身。
这也提醒我，做科技股不能只盯EPS和营收，还要看 估值、资金拥挤度、利率环境和市场结构。
一句话：基本面决定长期方向，仓位和流动性决定短期怎么走。
I also found the AI CapEx comparison across Big Tech very useful. I’m increasingly focused on whether massive AI spending can actually translate into revenue, margins and sustainable returns, rather than simply chasing companies with the biggest spending plans.
My biggest takeaway is the importance of “situational awareness.” Earnings, macro data, AI CapEx and market positioning can all interact at once. Understanding what the market has already priced in is just as important as understanding the fundamentals.
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