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Gary Black, managing partner and investor at The Future Fund, reports that U.S. stocks declined Tuesday, with the S&P 500 down 0.2% and the Nasdaq 100 off 1.0%.
He notes that investor disappointment with strong earnings from Samsung led to sharp drops in AI chip stocks, including Samsung falling 8%, SK Hynix down 7%, and MU losing 6%. Brent crude oil climbed 1.3% to $73 per barrel after an Iranian strike on a Qatari LNG tanker.
Gary Black has recently compared SPCX and NVDA valuations, noting investors pay 150x 2026 EV/EBITDA for SPCX while NVDA trades at 19x for the same year (link). He previously highlighted the SPCX IPO, which opened at $150 and rose to $164, drawing a comparison to META’s 2012 IPO performance (link). These earlier comments reflect his ongoing focus on notable moves and pricing in technology stocks.