The Rundown — March 27, 2026

Host: Zaid Admani
Produced by: Public.com
Episode Theme:
A fast-paced breakdown of a tumultuous day in the stock market, focusing on the Nasdaq's fall into correction, Netflix's price hikes, surging airfare, and other major market movers. Zaid delivers actionable insights for investors and ends with a surprising Apple profit fact.

Episode Highlights

Wall Street: A Brutal Day for Tech

• [00:38] Thursday marked the worst day for stocks since the Iran war began a month ago:

  • S&P 500 fell 1.7%
  • Nasdaq dropped 2.4%
  • Notable losses:
    • Nvidia and Google: -4%
    • Meta: -8% (“after back to back courtroom losses this week” — Zaid [01:10])

• Nasdaq in Correction Territory:

  • Down 10% from its October highs
  • No record highs in over 100 days
  • “Tech is now back to struggling like we saw at the start of the year.” — Zaid [01:28]

• Macro Factors:

  • Iran war and high oil prices are driving market sentiment
  • Peace talks aren’t persuading markets; Trump has extended the delay on military action until April 6 ([02:17])
  • Oil jumps: Brent crude up over 5%, hitting $110+ per barrel ([02:45])
  • Bond market jittery: 10Y treasury yield at highest since July ([02:56])
  • “We might be at a point where the market is finally starting to panic a bit about the Iran situation and a potential prolonged conflict.” — Zaid [03:01]

Netflix Hikes Prices Again

• [03:30] Netflix announces another U.S. price increase:
  • Ad-Supported: $8 → $9/month
  • Standard: $18 → $20/month
  • Premium: $25 → $27/month
  • Extra member add-ons also going up
• Average revenue per subscriber in US/Canada expected to rise 6% (TD Cowen)
• “Netflix has the lowest cancellation rate out of any streaming service, so that's a big part of their bull case. … Most people aren't canceling.” — Zaid [04:14]
• Debunking merger speculation:
  • Netflix exited the Warner Brothers merger but still raised prices and took a $2.8B breakup fee ([04:46])
• Content spend set to reach $20B in 2026, up from $18B in 2025
• Expanding into video podcasts and live sports:
  • Streaming MLB for $50M/year (3-year deal, including Home Run Derby & Field of Dreams games)
  • Exclusive NFL Christmas Day games: $75M/year
• Criticisms:
  • First MLB broadcast had complaints about “non stop Netflix show promos and also production mistakes” ([06:00])
• “I do wonder, though, at what price point do customers finally start pushing back? Maybe we're finally there. I don't know. We'll have to see.” — Zaid [06:20]

Airline Industry Turbulence & M&A Chatter

• [06:23] JetBlue exploring a potential sale to United Airlines, Alaska Air, or Southwest:
  • Stock jumped 13% Wednesday, though some gains already pared back
  • JetBlue struggles: losing money, down 75% over 5 years
  • “United Airlines CEO Scott Kirby told Bloomberg this week that rising fuel costs could wipe out the smaller airlines.” [06:55]
  • Regulatory context: JetBlue’s blocked 2022 merger attempt with Spirit Airlines in hindsight may have been a missed opportunity ([07:31])
• Travel Costs Soaring:
  • Jet fuel surging due to the Iran conflict
  • “Travel this summer is going to be expensive because airfare has shot up. I really should have listened to my wife and booked our summer vacation plans earlier in the year.” — Zaid [07:55]

Stocks on the Move

• Unity ([08:08]):
  • Shares surge ~10% after Q1 revenue forecast lifted to $505-508M (previously $480-490M)
  • Core business: gaming engine — “70% of the top 1000 mobile games are built using Unity” ([08:21])
  • Growth in "Vector AI" advertising platform; expected +15% QoQ
  • “Zoom out … Unity stock is down around 60% for this year and down over 90% from their all time highs back in 2021. … At least they have some momentum now.” — Zaid [08:52]
• Bitcoin ([09:03]):
  • Drops below $67,000, erasing recent gains
  • Near lowest level of 2026

Fun Fact: Apple Quietly Cashing In on AI

• [09:22] Apple made ~$900M in App Store fees last year from AI apps (ChatGPT, Claude, Grok)
• On pace to make $1B+ this year, benefitting from 30% cut of subscriptions
• “While everyone keeps clowning Apple for being way behind on AI and Siri being hot garbage, they're one of the few companies actually making a profit from the AI boom.”
• “Apple spends a fraction of what Google, Meta, Amazon, and Microsoft do and still cashes in the checks.” — Zaid [09:45]
• Noted: Apple is the best performing "Max 7" stock this year — despite still being down 7% YTD

Memorable Quotes & Timestamps

• “It was the worst day for stocks since the war started with Iran about a month ago.” — Zaid [00:54]
• “Netflix just raised prices back in January of 2025. … This is becoming like a yearly thing at this point.” — Zaid [03:34]
• “What I find funny is that everyone thought that Netflix would raise prices if they ended up merging with Warner Brothers. Well, they backed out of that merger, collected a $2.8 billion breakup fee, and they raised prices anyways.” — Zaid [04:46]
• “United Airlines CEO Scott Kirby told Bloomberg this week that rising fuel costs could wipe out the smaller airlines.” — Zaid [06:55]
• “While everyone keeps clowning Apple for being way behind on AI and Siri being hot garbage, they're one of the few companies actually making a profit from the AI boom.” — Zaid [09:30]

Takeaways for Investors

• Market Caution: Tech is struggling; macro headlines (Iran, oil, politics) are pressuring stocks and potentially triggering risk aversion.
• Streaming Prices: Expect continued Netflix price hikes, justified by growing investment in content and live sports, but potential consumer pushback is worth watching.
• Airline Volatility: Consolidation and surging travel costs are likely as smaller players struggle with high fuel prices.
• AI Monetization: Apple’s ‘quiet’ profits from App Store fees on AI apps illustrate that sometimes infrastructure players win big, even if they're not headline leaders.
• Stock Moves: Unity’s rebound and Bitcoin’s snapback are a reminder of volatility in both tech equities and crypto.