Analysis

Once Micron decisively breaks below its previous low of $740 on a daily closing basis, it will signal the invalidation of the massive high-level range-bound consolidation structure in place since June. This could trigger secondary risk-off sell-offs from long-term institutional capital and program trading, driving the stock down to test the next secondary support level at $650–$680.

TradingKey - In the coming week (October 19 to October 23), the US market will shift its focus from this week's inflation data to the third-quarter earnings season and economic growth data. US September CPI released this week rose 3.7% year-on-year, while PPI climbed 1.3% month-on-month, marking the largest single-month increase since March 2022. Meanwhile, September retail sales grew 0.8% month-on-month and 6.3% year-on-year, indicating that while inflationary pressures remain elevated, US consumer spending continues to demonstrate resilience.

TradingKey - Netflix (NFLX) will report its third-quarter 2026 financial results after the US market close on October 20. With the company's stock price currently hovering around $70 and investor sentiment turning noticeably cautious, this earnings report could serve as a critical turning point for its short-term trajectory.

TradingKey - The U.S. memory sector has continued to pull back recently, with Micron Technology (MU), SanDisk (SNDK), Seagate (STX), and Western Digital (WDC) all recording notable declines. As of October 14 Eastern Time, Micron dropped 4.1%, marking its fifth consecutive trading session of losses, while the Philadelphia Semiconductor Index fell for the sixth straight trading day. The recent pressure stems partly from profit-taking following prior strong gains, and partly from progress made by Chinese memory manufacturer ChangXin Memory Technologies (CXMT) in novel memory cell architectures, which has sparked market concerns over future capacity growth and intensified competition.

On October 13, Google expanded access to Gemini 4 Argon, making the model available to developers, enterprises, and select paid users via its API, the Gemini app, and Search AI Mode. With application scenarios covering specialized tasks such as coding, finance, and legal affairs, the move further broadens the commercialization channels for Google's AI technology.

TradingKey - JPMorgan (JPM) and Goldman Sachs (GS) both achieved year-over-year growth in revenue and profit for the third quarter.

TradingKey - TSMC stock forecast: TSM holds $412 support after a record Q3 beat and a raised 2026 outlook, as margin dilution and higher capex weigh on the shares.

TradingKey - General Motors stock forecast: GM coils below $84.62 triangle resistance into Tuesday's Q3 report, where a third guidance raise could trigger a breakout.

Goldman Sachs' stock price pulled back to $780 from January to March due to delayed rate cuts and FICC headwinds, but surged to an all-time high of $1,154 between April and July, driven by a recovery in M&A and investment banking activity. From August to September, it retested $880–$900 amid a compression of valuation froth and spillover effects from peer warnings, including those from Bank of America. Currently, investment banks' price targets are generally bullish, though opinions remain divided on whether the stock will reach new highs.

TradingKey - The current US bull market has marked its fourth anniversary. Since the S&P 500 Index fell to a low of 3,577 on October 12, 2022, the index has gained approximately 118% cumulatively. As the bull market enters its fifth year, with US Treasury yields approaching multi-decade highs and inflationary pressures persisting, the market is beginning to reassess the remaining upside potential for US equities.

TradingKey - As of Friday (October 16), Bitcoin (BTC) maintained a range-bound trend following a sharp drop on Thursday, with the latest price trading around $82,300. Previously, BTC dipped to near $79,700 on October 15, hitting a nearly four-week low, before quickly rebounding above $82,000. However, the current price remains below the level of around $84,000 seen at the beginning of the week, indicating that short-term correction pressure has not yet been fully eliminated.

AST SpaceMobile (ASTS) shares dropped sharply recently following news of SpaceX's acquisition of low-band spectrum resources. However, Deutsche Bank believes the market has overreacted to changes in the competitive landscape, arguing that the current pullback presents a more attractive entry point for investors.

On Friday, October 16, Eastern Time, U.S. stocks moved lower as technology and artificial intelligence (AI)-related shares extended their weekly decline. Investor concerns persisted regarding Chinese semiconductor competition and debt-fueled expansion in AI infrastructure, while rising oil prices also drew attention to the inflation outlook. Energy stocks bucked the trend to gain ground, partially mitigating the Dow's losses. At the close, the Dow Jones Industrial Average fell 0.34% to 52,002.41; the Nasdaq Composite Index dropped 2.14% to 26,140.03; and the S&P 500 Index declined 1.09% to 7,659.44.

TradingKey - Ahn Hyun, head of R&D at SK Hynix (SKHY), stated at the 2026 Semiconductor Exhibition in Seoul on October 14 that as demand for AI inference grows, the performance scale of AI infrastructure could expand approximately 20-fold by 2030.

On October 16 ET, crude oil prices surged again, with Brent crude (UKOIL) approaching $110 and rising more than 3.3% intraday, while WTI crude (USOIL) neared $99, gaining over 2% intraday. Meanwhile, Representative Gregory W. Meeks, the Ranking Member of the U.S. House Foreign Affairs Committee, introduced a bipartisan bill today, the "No Corrupt Russian Oil Deals Act," aimed at blocking what he described as a corrupt deal between Trump and Putin to purchase and import Russian diesel.

On October 16, Eastern Time, Nvidia (NVDA) shares bucked the trend to move higher against a 1.4% decline in the Nasdaq Composite Index. Despite a volatile week for the semiconductor sector as investors weighed the pace of AI investments amid concerns over rising infrastructure costs and the sustainability of demand, Jensen Huang addressed market doubts on Thursday, noting that demand for AI computing infrastructure remains strong. He stated: "Nvidia receives AI chip orders from customers almost every day. We continue to increase supply, yet order volumes keep growing."

On October 16, memory stocks suffered another setback on Friday: SK Hynix (SKHY) fell over 5%, while SanDisk (SNDK) and Micron (MU) both dropped more than 4%, bringing their weekly pullbacks to 18%, 15%, and 13%, respectively. Market concerns grew that progress on the 4F2 architecture announced by ChangXin Memory Technologies (CXMT) could ease the memory chip shortage, thereby dragging down prices and manufacturer profits. Behind this pullback lie two questions spanning different time horizons: whether immediate supply remains tight, and how much impact CXMT's future capacity expansion will bring.

SanDisk's stock price has plunged 15% over the past five days and may continue to fall, potentially retesting the $1,000 psychological mark in an extreme scenario.

TradingKey - FMC stock forecast: shares crash 30% after a $650 million channel reset slashes Q3 revenue. Covenant talks and October 29 results now decide the next move.

TradingKey - On Friday (October 16) US Eastern Time, futures on the three major U.S. stock indices were mixed in pre-market trading. Federal Reserve Chair Kevin Warsh gave no clear signals regarding the October and December interest rate decisions, causing the U.S. Dollar Index to weaken. Meanwhile, concerns over AI enterprise valuations and financing costs continued to weigh on tech stocks, while the market awaited the release of economic data, including U.S. industrial production.