Diamonds and Dogs

7/8/24

AI stocks are performing well as Corning (GLW) provides upbeat guidance. Corning is up 11% to a 52 week high as the best performing S&P 500 component after saying their earnings will be at the high end of guidance while raising sales guidance thanks to strong demand for their AI products and AI Companies demanding Corning products.

Nike (NKE) can't get out of its own way. Nike is down 2% to a new 52 week low, trading at valuation not seen in over a decade. In the short term, there are plenty of smaller shoe companies gaining market share. Long term, its hard to compete or bet against Nike.

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