BUD FOX RESEARCH · MAGNIFICENT SEVEN

Bud

Mag7 desk

Mag7 Desk Note #37

MONDAY, AUGUST 10, 2026

INTRADAYDESK NOTE 037 · 10 AUG 2026 · 14:22 ET

Published 2:22 PM ET · Market data through 2:23 PM ET

Leadership

MSFT strongest trend · AMZN cleanest relative

Positioning

4/7 ABOVE EMA20 · 11% AVG CONV

Risk

3/7 BELOW EMA20 · AAPL WEAKEST RELATIVE

Watch

NVDA +4.6% vs EMA20 · equipment tape remains broken

Deltas

Since last note

CHANGED COMPS and Form 4 both moved from unavailable to populated — the Bezos 1.21M AMZN sale and one-directional MSFT/META selling are new desk information (Claude treated insider flow as context, not a delta).
CHANGED AAPL's vol repriced hard
CHANGED crude and XLE flipped positive.

Desk Synthesis

Executive Takeaway

Nothing here pays for Mag7 beta. Leadership is two names deep — MSFT frozen on RSI, AMZN the usable one — with NVDA nominal rather than demonstrated (peer-leading on aggregate, but -2.46% on the session and behind AVGO). GOOGL is sponsorship (repeat House buying), not trend. AAPL, META, TSLA are peer-relative underweights, not just weak prices. Where upside is wanted, the IV-RV discount funds it in MSFT (-33.9) and AMZN (-31.4), not NVDA at -0.2.

Positioning

No directional edge: seven NEUTRALs, 31% conviction ceiling (NVDA), sub-1.0x RVOL everywhere but TSLA, VIX 15.15. The 4/3 EMA20 split is sizing input.
MSFT has the best structure (+9.8pp vs GOOGL/AMZN) and the worst entry (RSI 79.1) — hold, don't chase.
AMZN is the cleanest peer-clearing trend: +7.4pp over flat WMT/COST, 88th percentile, RSI 65.2.
AAPL (-10.2pp vs MSFT/GOOGL), META (-4.5pp), TSLA (-4.0pp) all lag peers and sit below EMA20.

Watch

Whether NVDA holds its +4.6% EMA20 premium while the 21-day equipment tape stays broken (KLAC -16.6%, LRCX -12.4%, AMAT -12.3%) and the $500B financing structure draws scrutiny. A break leaves MSFT/AMZN as the only intact peer-clearing trends.

What Changed

Collectively: COMPS and Form 4 both moved from unavailable to populated — the Bezos 1.21M AMZN sale and one-directional MSFT/META selling are new desk information (Claude treated insider flow as context, not a delta). AAPL's vol repriced hard; crude and XLE flipped positive. Prices, trends, RSI essentially flat; all headlines remain [SEEN].

Universe

Magnificent Seven · 7 names

SOURCE Yahoo Finance · AS OF 10 AUG 2026 14:22 ET

Price = daily close · vs SPY = 24h relative · equity as of Aug 10, 2:22 PM ET · options as of Aug 10, 2:23 PM ET

Symbol	Price	Trend	RSI	RVOL	RV20	IV30	IV−RV	Skew	vs SPY	Conv
AAPL	306.65	-3.2%	43.1	0.61x	38.6	38.5	-0.2	—	-2.04%	7%
MSFT	505.51	+13.6%	79.1	0.73x	57.8	23.9	-33.9	—	+1.20%	18%
GOOGL	354.04	+0.4%	50.6	0.61x	51.1	31.9	-19.3	—	+0.02%	10%
AMZN	276.61	+7.4%	65.2	0.68x	61.5	30.0	-31.4	—	+0.87%	0%
NVDA	218.46	+4.6%	58.9	0.82x	41.3	41.1	-0.2	—	-2.36%	31%
META	593.46	-0.6%	48.1	0.60x	45.5	36.7	-8.8	—	+0.32%	9%
TSLA	329.04	-2.9%	41.6	1.01x	64.0	42.7	-21.3	—	+0.23%	0%

Community

TradingView strategies · Mag7

Strategy bench not available this generation.

Macro

US macro + FX · 9 series

SOURCE FRED · AS OF 10 AUG 2026 12:01 ET

Series	Label	Latest	Change	As of
DFF	Fed funds effective	3.63%	+0.00	2026-08-06 LAGGED
DGS2	2Y Treasury	4.25%	+0.07	2026-08-06 LAGGED
DGS10	10Y Treasury	4.69%	+0.06	2026-08-06 LAGGED
T10Y2Y	10Y–2Y spread	0.46%	+0.02	2026-08-07
T10YIE	10Y breakeven inflation	2.25%	-0.01	2026-08-07
UNRATE	Unemployment rate	4.10%	-0.10	2026-07-01 LAGGED
CPIAUCSL	CPI (all urban, SA)	332.6	+3.73% YoY	2026-06-01 LAGGED
DTWEXBGS	Broad USD index	119.7	+0.03	2026-07-31 LAGGED
VIXCLS	VIX	15.15	-0.66	2026-08-06 LAGGED

Metals

Precious & auto metals · 5

SOURCE Yahoo Finance · Futures · AS OF 10 AUG 2026 13:53 ET

Pt / Pd / Ag / Au + Cu

ID	Metal	Price	1d	5d	21d	Auto relevance
PL	Platinum	$1,751.6	+0.09%	+8.26%	+8.25%	Catalytic converters (ICE); cost input for auto OEMs / suppliers
PA	Palladium	$1,381	+0.50%	+10.40%	+9.06%	Gasoline catalytic converters; sharp moves hit auto input costs
SI	Silver	$65.33	+3.16%	+13.30%	+9.24%	Electronics / EV contacts; industrial demand proxy
GC	Gold	$4,421.4	+1.86%	+9.61%	+7.73%	Macro risk / real-rate proxy; can affect auto valuation multiples
HG	Copper	$6.6170	+0.71%	+1.58%	+6.15%	EV wiring / motors; not precious but core auto cost input

Power

Power & energy · 6

SOURCE Yahoo Finance · AS OF 10 AUG 2026 13:53 ET

Oil / gas / utilities / uranium for AI & industrial power costs

ID	Name	Price	1d	5d	21d	Relevance
CL	WTI crude	$81.76	+4.58%	+1.77%	+14.49%	Oil complex; logistics & broader industrial cost pressure
BZ	Brent crude	$87.35	+4.55%	+4.27%	+14.92%	Global oil benchmark; energy inflation proxy
NG	Natural gas	$2.784	+4.58%	+0.11%	-5.31%	US power-gen feedstock; data-center / utility cost sensitivity
XLU	Utilities ETF	43.27	-0.78%	-2.46%	-4.71%	Grid / power-utility equity basket; AI power demand narrative
URA	Uranium ETF	44.51	-0.90%	+9.05%	+3.57%	Nuclear fuel chain; long-duration AI power buildout proxy
XLE	Energy Select ETF	59.92	+4.20%	+1.91%	+8.78%	Integrated energy equity beta

Semis

Semiconductor supply chain · 6

SOURCE Yahoo Finance · AS OF 10 AUG 2026 13:53 ET

Foundry + equipment bottleneck tape

ID	Name	Price	1d	5d	21d	Relevance
SMH	Semi ETF (SMH)	573.80	-1.53%	+5.20%	-6.09%	Broad semiconductor supply-chain beta
TSM	TSMC	$421.73	+0.40%	+3.85%	-2.85%	Leading-edge foundry capacity for NVDA / Apple / AMD
ASML	ASML	$1,749	+0.46%	+6.48%	-2.56%	EUV lithography bottleneck for advanced nodes
AMAT	Applied Materials	$528.42	-1.99%	+1.97%	-12.30%	Wafer fab equipment — deposition / etch / CMP
LRCX	Lam Research	$306.76	-1.47%	+4.12%	-12.44%	Etch / deposition equipment for logic & memory
KLAC	KLA	$193.21	-2.47%	+5.72%	-16.55%	Process control / inspection — yield bottleneck

Gases

Specialty gases · 3

SOURCE Yahoo Finance · AS OF 10 AUG 2026 13:53 ET

Industrial-gas proxies for fab specialty gases

ID	Name	Price	1d	5d	21d	Relevance
LIN	Linde	$488.80	-0.24%	+1.74%	-7.74%	Largest industrial gas franchise; fab specialty-gas exposure
APD	Air Products	$305.73	+0.76%	+4.37%	+2.07%	Hydrogen / electronic gases for semiconductors & refining
AIQUY	Air Liquide ADR	$39.49	-0.78%	+0.84%	-0.70%	Electronics / specialty gases for chip manufacturing

News

Mag7 headlines · 7

SOURCE News wire · AS OF 10 AUG 2026 13:53 ET

Symbol	Name	Headlines
AAPL	Apple	Stocks making the biggest moves midday: NetApp, Intel, Apple, Doximity, Verisk Analytics & more CNBC · 17 minutes ago Apple Stock Downgraded to Sell as Analyst Claims All-Glass iPhone Is Dead Barron's · 1 hour ago Apple Stock Downgraded Ahead Of iPhone 18 Launch Investor's Business Daily · 4 hours ago
MSFT	Microsoft	Microsoft Stock Rises 2%: Upcoming Maia 300 Chip Launch Targets Reduced Nvidia Reliance Benzinga · 1 hour ago Microsoft Stock Facing Margin Pressures Forbes · 4 hours ago Why is Microsoft stock gaining today? Investing.com · 4 hours ago
GOOGL	Alphabet	Microsoft, Amazon, Micron and Alphabet are part of Zacks Earnings Preview Yahoo Finance · 3 hours ago Is Alphabet (GOOGL) Still One of the Best AI Stocks to Own? Yahoo Finance · 5 hours ago 48% of Google Cloud Revenue Next Year Could Come From Just 2 Companies That Have Still Never Turned a Profit Yahoo Finance · 6 hours ago
AMZN	Amazon	Amazon: A Post-Earnings Drift Candidate Zacks Investment Research · 43 minutes ago Jeff Bezos Closes In on $6B Liverpool Deal as Amazon Stock Tops $3T Market Cap TipRanks · 5 hours ago Amazon Stock Hits a New All-Time High: Is It Still a Buy? Yahoo Finance · 6 hours ago
NVDA	NVIDIA	Nvidia Shares Extend Declines After Report of $500 Billion Financing Deal WSJ · 24 minutes ago Nvidia, Wall Street firms partner on $500 billion AI financing venture, source says Reuters · 45 minutes ago Nvidia Stock Slips as Its AI Investments Draw Fresh Scrutiny Barron's · 1 hour ago
META	Meta	Meta Stock Rises as It Plans to Open Muse Spark 1.2 and Launch AI Models for Laptops TipRanks · 2 hours ago 3 key details about what Mark Zuckerberg's vision of the AI future would look like for you Business Insider · 3 hours ago Tech stocks today: Meta lays out new AI path, Intel to sell $15 billion in stock Yahoo Finance · 3 hours ago
TSLA	Tesla	Tesla Stock Slips as Army of Fans Fails to Help It Claw Back Losses Barron's · 4 hours ago Tesla Stock’s Deepest Fall Was Worse Than Its Worst Market Crash Trefis · 4 hours ago If You'd Invested $10,000 in Tesla a Decade Ago, Here's How Much You'd Have Today AOL.com · 11 hours ago

News

Front-page semantics

No front-page news extraction in this generation.

Influencers

Donald J. Trump · Truth Social · 7

SOURCE Trump's Truth · AS OF 10 AUG 2026 13:53 ET

Symbol	Name	Date	Latest Truth
AAPL	Apple	July 10, 2026, 8:19 PM	Apple to invest $30 billion in US chip manufacturing: https://www.foxbusiness.com/media/apple-invest-30-billion-us-chip-manufacturing — Apple announced it is investing more than $30 billion in chip manufacturing in the U.S. that will produce a whopping 15 billion chips as part of its $600 billion … archive
MSFT	Microsoft	August 10, 2024, 11:01 PM	We were just informed by Microsoft Corporation that one of our many websites was hacked by the Iranian Government - Never a nice thing to do! They were only able to … archive
GOOGL	Alphabet	August 17, 2024, 8:15 AM	Google is a Crooked, Election Interference Machine. Totally Illegal, they will pay a big price for what they are doing! https://townhall.com/tipsheet/rebeccadowns/2024/08/16/rep-lance … archive
AMZN	Amazon	December 30, 2025, 4:18 PM	Amazon to invest up to $50B to build AI infrastructure for US government agencies: https://www.foxbusiness.com/markets/amazon-invest-up-50b-build-ai-infrastructure-us-government-agencies archive
NVDA	NVIDIA	July 27, 2026, 7:20 PM	NVIDIA: Building in America, for America: https://www.nvidia.com/en-us/made-in-usa/ — Together with our partners, NVIDIA is investing in American manufacturing, leading to more jobs and a new era of growth and prosperity. archive
META	Meta	February 9, 2023, 1:46 PM	Meta restores Trump's access to Facebook, Instagram following ban after Jan. 6 riothttps://www.washingtontimes.com/news/2023/feb/9/meta-restores-donald-trumps-access-facebook-instag/?utm_source … — Meta has restored former President Donald Trump’s access to Facebook and Instagram, allowing his return for the first time since banning him following the Capitol riot two years ago. archive
TSLA	Tesla	March 11, 2025, 4:12 PM	The Tesla Model S — BEAUTIFUL! archive

Options

Mag7 options · 7

SOURCE Options · Massive · AS OF 10 AUG 2026 14:23 ET

Front expiry ATM IV · put/call

Symbol	Spot	Expiry	ATM IV	P/C vol	P/C OI	Skew
AAPL	306.65	2026-09-11	37.9%	2.25	—	—
MSFT	505.51	2026-09-11	24.7%	0.66	—	—
GOOGL	354.04	2026-09-11	32.2%	6.25	—	—
AMZN	276.61	2026-09-11	27.0%	0.00	—	—
NVDA	223.96	2026-09-04	41.1%	0.12	—	—
META	592.10	2026-09-04	36.7%	1.07	—	—
TSLA	328.58	2026-09-04	42.7%	0.13	—	—

Alt data

Congress trades · Mag7 · 10

SOURCE Capitol Trades · AS OF 10 AUG 2026 13:53 ET

STOCK Act disclosures

Symbol	Side	Range	Member	Party / chamber	Date
GOOGL	buy	1K–15K	David Taylor	Republican · House	2026-07-16
MSFT	buy	1K–15K	David Taylor	Republican · House	2026-07-23
AAPL	sell	1K–15K	David Taylor	Republican · House	2026-07-23
MSFT	buy	1K–15K	David Taylor	Republican · House	2026-08-07
GOOGL	buy	1K–15K	David Taylor	Republican · House	2026-08-07
GOOGL	buy	1K–15K	Michael Rulli	Republican · House	2026-06-28
GOOGL	buy	1K–15K	Michael Rulli	Republican · House	2026-06-24
GOOGL	sell	1K–15K	Michael Rulli	Republican · House	2025-07-02
AMZN	sell	1K–15K	Michael Rulli	Republican · House	2025-07-02
AMZN	sell	1K–15K	Michael Rulli	Republican · House	2026-06-24

Alt data

Insider trades · Mag7 · 12

SOURCE SEC EDGAR · AS OF 08 AUG 2026 16:45 ET

Open-market purchases / sales

Symbol	Side	Shares	Price	Filer	Title	Date
MSFT	Sale	10,000	487.89	Althoff Judson	CEO Microsoft Commercial	2026-08-05
META	Sale	250	588.16	Andreessen Marc L	Director	2026-08-04
META	Sale	87	589.24	Andreessen Marc L	Director	2026-08-04
META	Sale	44	590.39	Andreessen Marc L	Director	2026-08-04
META	Sale	45	591.69	Andreessen Marc L	Director	2026-08-04
MSFT	Sale	4,810	496.48	Numoto Takeshi	EVP, Chief Marketing Officer	2026-08-04
AMZN	Sale	1,000	278.39	Herrington Douglas J	CEO Worldwide Amazon Stores	2026-08-03
AMZN	Sale	1,209,649	286.41	BEZOS JEFFREY P	Executive Chair	2026-08-03
META	Sale	500	561.56	KIMMITT ROBERT M	—	2026-08-03
GOOGL	Sale	82	333.39	ARNOLD FRANCES	Director	2026-07-30
AAPL	Sale	116	295.14	Borders Ben	Principal Accounting Officer	2026-06-16
TSLA	Sale	2,606	402.20	Taneja Vaibhav	Chief Financial Officer	2026-06-08

Alt data

Short interest · Mag7 · 7

SOURCE Short interest · AS OF 08 AUG 2026 16:48 ET

Days to cover = SI ÷ ADV

Symbol	Short interest	ADV	Days to cover	Δ SI	Settlement
AAPL	146.55M	47.95M	3.06	+4.3%	2026-07-15
MSFT	92.37M	32.42M	2.85	+3.7%	2026-07-15
GOOGL	78.67M	22.91M	3.43	-8.4%	2026-07-15
AMZN	106.57M	38.65M	2.76	+6.2%	2026-07-15
NVDA	324.05M	131.17M	2.47	+4.5%	2026-07-15
META	37.85M	23.55M	1.61	+9.7%	2026-07-15
TSLA	70.65M	39.66M	1.78	-10.7%	2026-07-15

Calendar

Earnings · Mag7

No Mag7 earnings in this generation.

Comps

Competitive peers · Mag7 · 7

SOURCE Competitive peers · AS OF 10 AUG 2026 13:53 ET

Primary	Price	Trend	Peer 1	Price	Trend	RVOL	Peer 2	Price	Trend	RVOL	Note
AAPL	306.65	-3.2%	MSFT	505.51	+13.6%	0.73x	GOOGL	354.04	+0.4%	0.61x	Platform + consumer software peers
MSFT	505.51	+13.6%	GOOGL	354.04	+0.4%	0.61x	AMZN	276.61	+7.4%	0.68x	Cloud / enterprise software peers
GOOGL	354.04	+0.4%	META	593.46	-0.6%	0.60x	MSFT	505.51	+13.6%	0.73x	Ad platforms + cloud peers
AMZN	276.61	+7.4%	WMT	111.87	-0.3%	0.87x	COST	948.44	+0.1%	0.72x	Commerce / retail scale peers
NVDA	218.46	+4.6%	AMD	475.02	-4.3%	0.89x	AVGO	423.38	+5.9%	0.77x	AI / semiconductor peers
META	593.46	-0.6%	GOOGL	354.04	+0.4%	0.61x	SNAP	5.34	+7.4%	1.06x	Social / digital ads peers
TSLA	329.04	-2.9%	GM	88.45	+3.9%	0.55x	F	14.02	-1.7%	0.62x	Auto / EV peers

Patents

USPTO · Mag7 · 21 grants

SOURCE USPTO · AS OF 10 AUG 2026 13:53 ET

Symbol	Granted	Age	Patent	Title	Assignee
AAPL	2026-05-05	4mo ago	USD1125246S1	Display screen or portion thereof with icon	Apple Inc
GOOGL	2026-04-28	4mo ago	US12613915B2	Structured video documents	Google Llc
AMZN	2026-04-28	4mo ago	USD1123902S1	Electronic device	Amazon Technologies, Inc
GOOGL	2026-04-21	5mo ago	US12608369B2	Methods, systems, and computer readable media related to generating a combined search query	Google Llc
META	2026-04-21	5mo ago	US12608435B2	Accessing content via a logged-out experience	Meta Platforms, Inc
AMZN	2026-04-14	5mo ago	USD1122257S1	Electronic device	Amazon Technologies, Inc
AMZN	2026-04-07	5mo ago	USD1121603S1	Wireless connectivity device	Amazon Technologies, Inc
META	2026-04-07	5mo ago	US12597444B2	Systems and methods for automated digital editing	Meta Platforms, Inc
AAPL	2026-04-07	5mo ago	USD1121665S1	Display screen or portion thereof with a group of graphical user interfaces	Apple Inc
AMZN	2026-04-07	5mo ago	USD1121705S1	Camera mount	Amazon Technologies, Inc
TSLA	2026-03-24	6mo ago	US12583274B2	Compliant mechanism for suspension height sensor	Tesla, Inc
AAPL	2026-03-24	6mo ago	USD1119859S1	Headphones	Apple Inc
MSFT	2026-03-24	6mo ago	US12585346B2	Double-wheel assembly	Microsoft Technology Licensing, Llc
AAPL	2026-03-17	6mo ago	USD1118748S1	Type font	Apple Inc
MSFT	2026-03-17	6mo ago	US12580979B2	Bidirectional mapping between applications and network content	Microsoft Technology Licensing, Llc
NVDA	2026-03-17	6mo ago	US12581100B1	Video encoding using reconstruction of spatially decimated frames	NVIDIA Corporation
TSLA	2026-03-17	6mo ago	US12576807B2	Vehicle hood hinge assembly	Tesla, Inc
AAPL	2026-03-17	6mo ago	USD1118681S1	Electronic device with animated graphical user interface	Apple Inc
GOOGL	2026-03-17	6mo ago	US12576523B2	Controlling robots using multi-modal language models	Google Llc
AMZN	2026-03-10	6mo ago	USD1117210S1	Content streaming device	Amazon Technologies, Inc
AAPL	2026-03-03	6mo ago	USD1115763S1	Wearable device	Apple Inc