Analysis

TradingKey - The AI chip market is gradually expanding from Nvidia-dominated general-purpose GPUs to custom accelerators designed in-house by cloud computing giants. Driven by this trend, Broadcom (AVGO) and Marvell Technology (MRVL) have emerged as two of the most closely watched custom AI chip stocks in the US equity market.

TradingKey - As of August 31, Eastern Time, Micron (MU) shares rose 2.77% for the day to close at $958.73, reaching an intraday high of $959.78. Following a sharp pullback from above $1,250 at the end of June, Micron's stock price has recently been consolidating in the $800–$1,000 range. As the stock currently approaches $1,000 again, its short-term trend is showing signs of improvement.

TradingKey - Global electric vehicle sector performance diverged in August, with Tesla (TSLA) leading the market with a monthly gain of over 18%. The stock was driven higher by the approaching Cybercab event, Einride's order for 500 Semi trucks, the Model Y L Launch Series nearly selling out, and better-than-expected second-quarter deliveries.

The Nikkei closed slightly lower, while the KOSPI opened lower and moved higher to reclaim the 6,800 mark, driven by gains in semiconductor giants Samsung and SK Hynix. Kioxia surged more than 2%.

TradingKey - On September 1, Asia-Pacific time, the South Korean government unveiled its 2027 budget proposal, with total expenditure reaching 820.9 trillion won (approximately $597 billion), up 12.8% year-on-year. This marks a record high for South Korea's annual budget growth, surpassing the 10.6% recorded during the 2009 global financial crisis.

TradingKey - In August 2026, the upward momentum in US stocks broadened significantly. Moderna (MRNA) topped the S&P 500 constituents with a 156% gain, surging 375.9% year-to-date. Palantir (PLTR) followed closely behind, rising 51.5% in August, while enterprise software stocks as a whole extended their previous recovery.

Wall Street is bullish on the explosive growth of AI servers and is heavily touting Dell ahead of its earnings report, with target prices set as high as $650.

TradingKey - As of August 31, Eastern Time, SanDisk (SNDK) shares staged a strong rebound, closing up 5.5% for the day and hitting an intraday high of $1,572.69, with trading volume reaching approximately 23.38 million shares, significantly above its recent average. However, compared with the high of $2,354.39 set earlier this year, SanDisk has still pulled back about 33%, with the stock currently in a phase of range-bound consolidation following its previous major rally.

TradingKey - According to a Wall Street Journal report, artificial intelligence company Anthropic has signed a cloud computing deal worth approximately $35 billion with AI cloud service provider Lambda. Backed by Nvidia (NVDA), Lambda will help expand Anthropic's Nvidia GPU-based computing capacity to meet the growing compute demands of its AI products, such as Claude. However, this news has not yet been confirmed by Anthropic.

Japanese and South Korean stock markets both tumbled at the open. South Korean stocks fell 1.05%, breaching the 6,800-point mark, while the Nikkei dropped over 1%, with heavyweight chip stocks opening lower across the board.

TradingKey - On August 31, US Eastern Time, the three major US stock indexes closed lower across the board, with the Dow posting a relatively pronounced decline. The re-escalation of the US-Iran military conflict over the weekend pushed international oil prices back above $90, rekindling market conc

On August 31, Eastern Time, SanDisk (SNDK) reversed a late-session loss of over 2% to gain more than 5%, closing at $1,566.70 and reclaiming several short- and medium-term moving averages, including the 5-day and 10-day lines. On August 12, MSCI announced the results of its August 2026 quarterly index review for its equity indices, deciding to add SanDisk to the MSCI Global Index after the market close on August 31.

Military conflicts between the US and Iran escalated again, with reports indicating Donald Trump may approve the resumption of strike operations against Iran. Meanwhile, global oil prices and US Treasury yields both surged, exacerbating pessimism in the stock market. Major US stock indexes fell, led by losses in cloud providers, while memory stocks rallied late in the session. At the close, the Dow Jones Industrial Average fell 0.70% to 53,185.90; the Nasdaq Composite Index slipped 0.12% to 26,370.89; and the S&P 500 Index declined 0.33% to 7,686.14.

On August 31, Eastern Time, Amazon (AMZN) shares fell over 3%, dropping below the $260 level. According to a report by The Wall Street Journal, the U.S. Federal Trade Commission (FTC) is set to file a lawsuit against Amazon over advertising pricing, alleging that the company manipulated merchant ad bids and secretly inflated advertising costs over the past seven years.

Nvidia (NVDA) and MediaTek jointly announced on Monday that Nvidia will invest $3.5 billion to subscribe to convertible bonds issued by MediaTek. This marks Nvidia's largest direct investment outside the United States to date. As the conversion price, maturity, and potential shareholding ratio have not been disclosed, the transaction should be understood as an investment in convertible bonds rather than Nvidia already holding direct equity in MediaTek.

TradingKey - MSFT closed near $513.53 after breaking resistance as Azure grew 43% and Copilot topped 30M paid seats. Can $523.08 be the next target?

On August 31, Eastern Time, Tesla (TSLA) shares rose over 4%, reclaiming the $360 mark. Recently, the Trump administration stepped in to regulate the power supply chain, citing national security concerns. Last Wednesday, Tesla officially signed an emergency executive order prohibiting the U.S. power grid from procuring and installing foreign-made transformers, core power equipment, and supporting software that pose security risks, while reserving policy space for subsequent restrictions on existing installed equipment and authorizing the Department of Energy to gradually advance implementation based on actual conditions.

TradingKey - BABA closed at $118.90 as Alibaba Cloud grew 45% and a $10.2B share sale funds AI expansion. Can $121.17 unlock the next recovery leg?

TradingKey - On September 1, Eastern Time, Apple (AAPL) will undergo its first CEO transition in nearly 15 years. Tim Cook will transition to Executive Chairman of the Board, while John Ternus, Senior Vice President of Hardware Engineering, will officially assume the role of CEO.

TradingKey - On August 31, US energy stocks rose broadly in pre-market trading. As the US-Iran conflict escalated again, mounting market concerns over potential shipping disruptions in the Strait of Hormuz drove international oil prices noticeably higher, boosting the energy sector. Chevron (CVX) rose 2.42%, while Halliburton (HAL) gained about 2.46% in pre-market trading.