Andy Chen

TradingKey - On June 30 EST, after Nike (NKE) released its fourth-quarter financial results for fiscal year 2026 during post-market trading, its stock price initially rose over 2% before turning downward. As of press time, it fell 3.58% to $39.58. Consumer goods, represented by Nike, are no longer the primary artificial intelligence-focused investment targets favored by the market. However, they hold a highly important observational value for the market: namely, whether financial reports will bring incremental capital to undervalued consumer stocks.

TradingKey - US stocks regained upward momentum as corporate earnings were validated and macroeconomic risks partially subsided. The three major US stock indexes extended yesterday's gains, with the Dow Jones Industrial Average continuing to hit a new closing high, led by chipmakers and memory chip stocks. At the close, the Dow Jones Industrial Average rose 0.26% to 52,319.20 points; the Nasdaq Composite Index rose 1.52% to 26,213.72 points; and the S&P 500 Index rose 0.79% to 7,499.36 points.

TradingKey - On June 30, Eastern Time, AMD (AMD) hit an intraday historic high of $579.73. As of press time, it rose over 7% to report at $577.61. Notably, Wells Fargo raised its price target for AMD from $505 to $615, an upward adjustment of over 21%, while maintaining an "Overweight" rating.

TradingKey - On June 30, Eastern Time, the three major US stock indices all strengthened in early trading. The Nasdaq 100 ETF (QQQ), which tracks the performance of tech stocks, rose over 1%, while the Philadelphia Semiconductor Index surged by more than 3%.

TradingKey - On Monday, June 29, Eastern Time, market sentiment rebounded as the US and Iran returned to the negotiating table, lifting all three major indices, with space and technology stocks leading the gains. At the close, the Dow Jones Industrial Average rose 0.59% to 52,182.74 points; the Nasdaq Composite Index gained 2.07% to 25,820.14 points; and the S&P 500 Index rose 1.18% to 7,440.43 points.

TradingKey — On June 29, Eastern Time, Cerebras Systems (CBRS) surged more than 20% at one point. As of press time, it was up 19.36% at $216.75. The latest holdings of Cathie Wood, CEO and CIO of ARK Invest, show that she added over 20,000 shares of CBRS stock last Friday, reflecting her continued optimism in the AI chip sector. Notably, the AI chipmaker, which is regarded as a competitor to Nvidia, has seen its stock price plunge about 40% since its listing, hitting an all-time low of $160.81 last Friday.

TradingKey - On June 29, Eastern Time, Tesla (TSLA) shares reclaimed the $400 mark, rising 5.83% to $401.84 as of press time. Tesla is scheduled to release its second-quarter delivery report this week, with Wall Street investment banks expecting deliveries to beat market expectations.

TradingKey - Shares of space company Rocket Lab (RKLB) surged by over 12% at one point after announcing an $8 billion acquisition of Iridium Communications (IRDM). Under the transaction agreement, Iridium Communications shareholders will receive $27 per share in cash plus Rocket Lab stock, representing a total consideration of approximately $54 per share. The transaction is expected to close in mid-2027.

On June 29, Eastern Time, US memory stocks fell collectively after the South Korean government announced its largest-ever investment plan for the semiconductor and artificial intelligence (AI) industries, with SanDisk (SNDK) and Micron (MU) both dropping over 6%. This serves as another new catalyst for the memory sector following Micron Technology's release of optimistic earnings guidance last week. However, judging from today's market reaction, investors do not seem to be buying into it. Meanwhile, reports that Apple and Microsoft's Xbox raised prices on the same day last week have prompted the market to reassess whether the current sharp rise in memory prices driving the chip sector's earnings expansion is coming at the expense of sustained pressure on end-consumer demand.

TradingKey - Two weeks have passed since SpaceX (SPCX) went public on June 12. In just over ten trading days, this largest IPO in history has sent shockwaves through the secondary market. From a frenzied scramble for shares that propelled its market capitalization to $3 trillion, to a sudden onslaught of bearish news triggering a single-day plunge of over 16%, SpaceX has staged a textbook cycle of speculative euphoria and valuation correction. Currently, SpaceX’s stock price has fallen more than 30% from its post-IPO all-time high of $225.64.

TradingKey - Micron Technology (MU) released a blowout earnings report for the third quarter of fiscal year 2026, with revenue surging 346% year-over-year to $41.5 billion, non-GAAP diluted earnings per share (EPS) reaching $25.11, and its gross margin jumping to 84.9%. All three core metrics set new historic records. The explosive growth in AI memory demand, combined with the implementation of 16 "take-or-pay" Strategic Customer Agreements (SCAs), not only drove a surge in single-quarter performance but also reshaped the company's business model. Following the earnings release, Micron's stock price surged nearly 16% in a single day to hit a new all-time high. Wall Street collectively raised their price targets, and the market generally believes that Micron is in a critical window of transition from a highly cyclical memory manufacturer to a core AI infrastructure asset.

TradingKey - OpenAI may postpone its initial public offering (IPO) until after next year. With the market anticipating weakening demand for AI infrastructure, chip and memory stocks were sold off. The three major indices closed down across the board, with the Nasdaq Composite Index falling for the fifth consecutive day. At the close, the Dow Jones Industrial Average fell 0.09% to 51,876.11 points; the Nasdaq Composite Index fell 0.24% to 25,297.62 points; and the S&P 500 Index fell 0.05% to 7,353.95 points.

TradingKey - On June 26, Eastern Time, investment sentiment surrounding the AI rally in US stocks shifted, though this anomaly was not apparent at the index level. The three major US indices closed flat today, with the Dow Jones Industrial Average down 0.03% to 51,903.34 points, the Nasdaq Composite down 0.01% to 25,356.26 points, and the S&P 500 up 0.09% to 7,363.84 points. However, at the sector level, weighed down by mounting concerns over the rising costs of artificial intelligence infrastructure, previously strong AI infrastructure stocks stumbled today, with both memory and chip stocks declining.

TradingKey - Under the hawkish pivot of the new Federal Reserve Chairman Warsh, the trading logic for gold has undergone a consequential shift, with several mainstream Wall Street investment banks collectively downgrading their gold price forecasts. Recently, spot gold briefly broke below the $4,000 threshold, hitting a low of $3,959.49. Goldman Sachs lowered its year-end gold target to $4,900, while Deutsche Bank estimated that gold prices could drop to as low as $3,800 under an extreme scenario.

TradingKey - Following the Federal Reserve's release of its June meeting decisions, Minneapolis Fed President Neel Kashkari, a voting FOMC member this year, stated in his latest remarks that he has revised his full-year policy outlook from "one rate cut by year-end" in March to "one rate hike by year-end." This makes him the first core official in the current cycle to explicitly pivot to a rate-hike stance. The shift is primarily driven by the dual escalation of sticky inflation and geopolitical risks. Latest data shows that the Fed's preferred inflation gauge has risen to 4.1%, while core inflation reached 3.4%, both hitting more than two-year highs, with inflation deviating from the 2% target for five consecutive years. Kashkari believes that energy prices driven up by the Middle East conflict are unlikely to retreat rapidly, and there is insufficient certainty regarding compliance with the U.S.-Iran ceasefire agreement. With geopolitical supply risks yet to be fully cleared, upward pressure on inflation persists.

TradingKey - Vessel transit has resumed through the Strait of Hormuz, significantly cooling concerns over crude oil supply disruptions in the Persian Gulf. Catalyzed by the easing of geopolitical risks, international oil prices have retreated to a four-month low, with the previously accumulated geopolitical risk premium rapidly unwinding. The latest reports indicate that Saudi Arabia is increasing its crude oil shipments while boosting loading volumes at its Red Sea ports. Reportedly, the Port of Ras Tanura, which was shut down due to conflict, has restarted crude oil loading operations, with Very Large Crude Carriers (VLCCs) docking to load cargo—marking the port's first return to normal operations since March. Meanwhile, the Port of Yanbu on the Red Sea remains highly active, with all seven of its crude oil berths operating at full capacity for the first time, driving a continuous month-on-month increase in export volumes.

TradingKey - Micron's earnings report ignited investor sentiment in memory stocks, while also proving that the consumer electronics industry, including Apple, faces cost pressures. The three major U.S. stock indexes continued their divergent trend, with the Dow Jones Industrial Average hitting an intraday record high and memory stocks leading the gains. At the close, the Dow Jones Industrial Average rose 0.14% to 51,920.62 points; the Nasdaq Composite Index fell 0.46% to 25,358.60 points; and the S&P 500 Index edged down 0.73 points to 7,357.49 points.

TradingKey - Apple has officially implemented its largest global hardware price hike in recent years, raising prices across its entire Mac lineup, iPads, and other products. As a benchmark of the global consumer electronics industry, Apple's decision to pass skyrocketing supply chain costs directly onto consumers has sent shockwaves through the market, causing its stock price to plunge over 5% at one point on Thursday, marking its largest single-day decline since February this year.

TradingKey - On Thursday Eastern Time, May inflation data released by the U.S. Bureau of Economic Analysis (BEA) showed that the May PCE price index rose 4.1% year-on-year, in line with market expectations and higher than the previous reading of 3.8%. The U.S. May PCE month-on-month rate was 0.4%, lower than the market expectation of 0.50% and matching the previous 0.40%. The core PCE price index, which excludes food and energy, rose 3.4% year-on-year, in line with market expectations and higher than the previous 3.30%. The core PCE month-on-month rate was 0.3%, meeting market expectations, though the previous value was revised from 0.20% to 0.3%. Impacted by the Middle East conflict pushing up energy prices, U.S. inflation climbed further in May, with the annual PCE rate breaching the 4% threshold for the first time in three years, marking the first occurrence since April 2023. Although the monthly growth rates were broadly in line with Wall Street expectations, the clear rebound in the year-on-year rate indicates that the fight against inflation is not yet over.

TradingKey - On June 24 Eastern Time, following the release of Micron's (MU) Q3 FY2026 financial results during after-hours trading, the company's stock price surged over 13% at one point. As of press time, it remained up 13.96% at $1,194.19. During the period, Micron Technology's revenue increased by 345.72% year-on-year to $41.46 billion and rose by 73.75% quarter-on-quarter, substantially beating the market expectation of $35.84 billion. Although all four of its major business units surpassed growth expectations, the data center business recorded the most rapid growth, with revenue surging sevenfold compared to the same period last year. Micron Technology stated in a report that, in addition to its memory business, revenue from its data center solid-state drive (SSD) business also exceeded $5 billion.