Analysis

TradingKey - On June 25, Eastern Time, the three major US stock indexes closed mixed. Strong earnings from Micron (MU) reignited trading in AI memory and semiconductors, but declines in Apple (AAPL) and several mega-cap tech stocks offset the support from the rebound in chip stocks. Meanwhile, US May PCE inflation rose to a three-year high, and the market remained cautious about the Federal Reserve's subsequent rate hike path.

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 - During Thursday's US pre-market session, IBM shares surged over 6% at one point. The company announced a milestone breakthrough in semiconductor technology, officially unveiling the world's first manufacturable sub-1nm chip technology.

TradingKey - Micron stock surged after reporting record Q3 revenue of $41.46B, up 346% YoY, with 84.6% gross margins and Q4 guidance for $50B revenue. HBM4 production and AI demand continue driving growth.

TradingKey - On June 25, Eastern Time, Germany's Merck Group announced that it will acquire US life sciences company Bio-Techne (TECH) for $73 per share in an all-cash transaction, representing an enterprise value of approximately $11.3 billion.

TradingKey - Sandisk stock trades near $2,151 after becoming the S&P 500's best-performing stock in 2026. Micron's record Q3 results reinforce the AI memory shortage, supporting SNDK's strong Q4 outlook and long-term NAND growth story.

TradingKey - On June 24, Eastern Time, at Nvidia’s (NVDA) annual shareholder meeting, CEO Jensen Huang set the tone for the next phase of the AI industry’s development in a two-hour speech. He declared the official arrival of the "era of useful AI," stating that agents will become the core engine driving computing power demand for decades to come, and characterized this computing paradigm shift as the largest industry reset in 60 years.

TradingKey - On June 25 ET, in U.S. premarket trading, the three major stock index futures rose in unison. As of press time, Dow futures were up 0.24%, Nasdaq 100 futures climbed 2.16%, and S&P 500 futures gained 0.73%.

TradingKey - After the US market close on June 24, memory chip giant Micron Technology (MU) released its fiscal third-quarter 2026 earnings report, completely reversing the market's pessimistic expectations for AI memory demand with its blockbuster core metrics.

TradingKey - After the market close on June 24, Eastern Time, following Micron Technology’s (MU) earnings release, JPMorgan Chase (JPM) immediately raised its price target from $550 to $1,540, maintaining an "Overweight" rating. This near-twofold upward adjustment reflects the bank's strong recognition of Micron's explosive earnings potential. Analyst Harlan Sur's upward revision was based on Micron's third-quarter revenue, gross margin, and earnings per share (EPS) all beating expectations.

At the inaugural FOMC meeting chaired by the newly appointed Fed Chairman Kevin Warsh, the median dot plot shifted directly from rate-cut expectations to rate-hike expectations. Interest rate futures immediately priced in a roughly 70% probability of a rate hike in September, plunging the market into a rate-hike panic. This article argues that the market is highly likely overestimating the intensity of this rate-hike cycle. Even if rate hikes do resume in September, the move would fundamentally represent a robust tightening characterized by "withdrawing insurance rate cuts against the backdrop of a still-resilient economy," which is fundamentally different from the panic-driven tightening of 2022. For long-term investors in US equities, this shift presents opportunities that outweigh the risks. However, this assessment is conditional and must be dynamically adjusted using three indicators as anchors: core inflation, long-term inflation expectations, and the unemployment rate.

TradingKey - On June 24, Eastern Time, Qualcomm (QCOM) sent a major signal at its Investor Day: the company projects that its data center chip sales will exceed $15 billion by 2029, with revenue from the segment expected to reach $5 billion by fiscal year 2027. Meanwhile, Meta (META) will adopt its Dragonfly C1000 data center CPU, and Microsoft (MSFT) will deploy its HBC chips, marking Qualcomm's official entry into the AI data center market. Following the announcement, Qualcomm shares surged over 12% in after-hours trading.

TradingKey - Japanese memory chip giant Kioxia plans to issue American Depositary Receipts (ADRs) and list in the United States as early as the spring of 2027, aiming to further expand its international investor base, enhance stock liquidity, and boost its valuation. Previously, Kioxia had announced that it was preparing to list American Depositary Shares (ADSs) on a US stock exchange, though the specific exchange, offering size, and final timeline remain subject to regulatory approvals and market conditions. Following the announcement, Kioxia’s stock price experienced minor intraday fluctuations. As of press time, the latest price stood at 99,930 yen, down slightly from the opening price.

TradingKey - On June 24, Eastern Time, the three major U.S. stock indexes closed mixed as the market continued to digest high AI valuations, capital expenditure pressures on tech giants, and expectations of another Federal Reserve rate hike this year. A sharp decline in oil prices eased inflation co

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.

TradingKey - On June 24, Eastern Time, the resumption of shipping through the Strait of Hormuz accelerated, but a strong wait-and-see sentiment prevailed in the market as Micron was set to release its earnings report after the close. The three major U.S. stock indexes diverged, with only the Dow Jones Industrial Average rising, while memory and chip stocks extended yesterday's losses. TradingKey - On June 24, Eastern Time, the resumption of shipping through the Strait of Hormuz accelerated, but a strong wait-and-see sentiment prevailed in the market as Micron was set to release its earnings report after the close. The three major U.S. stock indexes diverged, with only the Dow Jones Industrial Average rising, while memory and chip stocks extended yesterday's losses. At the close, the Dow Jones Industrial Average rose 0.36% to 51,850.31 points; the Nasdaq Composite Index fell 0.43% to 25,476.64 points; the S&P 500 Index fell 0.10% to 7,358.33 points.

TradingKey - Following the recent departure of Google DeepMind Vice President John Jumper to Anthropic, Google's AI team has suffered another major blow to its core talent. According to media reports, two core Gemini researchers, Jonas Adler and Alexander Pritzel, are set to join Anthropic. Google's loss of top R&D talent in quick succession has triggered market concerns over its AI competitiveness. As of press time, Google (GOOGL) reversed its earlier gains to slide 1.16%, trading at $342.07.

TradingKey - US stocks suffered another sharp sell-off yesterday, with the Nasdaq Composite Index closing down 2.21%, the Nasdaq 100 ETF (QQQ) falling 3.29%, and the Philadelphia Semiconductor Index plunging 7.87% in a single day. This decline was dragged down by leading tech stocks; yesterday, Micron plummeted 13.18% to close at $1,051.77. The market views the memory chipmaker's upcoming earnings report as a "litmus test" for the AI industry chain, which will influence investors' judgments on the AI hardware chain, semiconductor industry prosperity, memory price hike cycles, and the valuations of high-flying tech stocks. There is widespread market concern over the risk of excessive upward revisions in earnings expectations. If valuations have already priced in the positive earnings outlook in advance, even outstanding financial results could trigger a "sell-the-news" sell-off once the earnings materialize. Broadcom's (AVGO) stock price movement on June 4 serves as a classic reference case under this logic.

TradingKey - "Nvidia challenger" Cerebras (CBRS) extended its post-market losses from the previous session in Wednesday's pre-market trading, with its stock price plunging over 12% at one point.