In a heartfelt apology to subscribers of a Sunday newsletter, the author acknowledged a shift in focus that may have disappointed loyal readers. The writer admitted to becoming engrossed in the escalating hype surrounding the 2026 AI stock craze, with particular attention to companies like Micron (MU), Sandisk (SNDK), and SK Hynix (000660.KS). However, this obsession with daily price movements led to a concerning oversight: a loss of clarity on the actual trading prices of these stocks.
A key point highlighted by a concerned viewer, Dorothy, emphasized that the average investor is increasingly being shut out of the market. Analyzing stock prices alone is no longer adequate; understanding valuations has become crucial. The writer pointed out that stocks priced at $1 can still be overvalued, while those at $500 might actually be undervalued. With numerous stocks from top companies soaring past $500 or even $1,000 per share, the traditional pathways for retail investors are fading.
Dorothy’s observations echoed a disturbing trend that the writer had never witnessed in over three decades of investing. The barriers for mom-and-pop investors are rising, especially as many stocks surge in price, making it difficult to establish a position without significant capital investment. For instance, a notable drop in Micron’s stock price followed an analyst downgrade, serving as a warning about the volatility inherent in such high-priced stocks.
The lack of stock splits among major tech firms has further exacerbated this issue. The piece noted that many companies seemingly disregard the retail investor demographic. In the current market environment, major players like Nvidia (NVDA), Micron, Microsoft (MSFT), and Alphabet (GOOGL) all trade at elevated prices: Nvidia surpasses $200, Micron is over $900, Microsoft hovers around $440, and Alphabet stands at approximately $379.
When examining the history of stock splits for these giants, it’s evident that most splits occurred long ago. Microsoft last split its shares in 2003; Nvidia’s last split was in 2024; Micron hasn’t split its shares since 2000, and Alphabet’s most recent split was just a year ago, in July 2022.
Experts, including Wedbush tech analyst Dan Ives, foresee a potential shift as the ongoing success of tech stocks and the burgeoning AI revolution may encourage future stock splits. Nevertheless, for now, concerns persist about the accessibility of the stock market for average individuals, inviting a broader discussion on the implications of this rise in stock prices and what it means for retail investors moving forward.
