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TradingKey - On Thursday, June 25 (Eastern Time), Apple (AAPL) shares closed down 6.12% at $275.15, after hitting an intraday low of $273.75. Looking at the session, Apple not only underperformed the Nasdaq today but also became one of the key heavyweights dragging down the performance of mega-cap tech stocks. The direct catalyst for the market sell-off was Apple's recent announcement of price hikes across multiple hardware products, triggering a reassessment by investors of its future demand, profit margins, and brand pricing power.

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.

Japanese and South Korean stocks surged 5% in a tsunami-like rally, with both Kioxia and SK Hynix skyrocketing over 12%.

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.

Nvidia and Micron eased chip-sector anxieties, driving sharp gains in Japanese and South Korean stock markets, with AI stocks such as Kioxia, SK Hynix, and Samsung Electronics leading the rally.

TradingKey - On Tuesday (June 23) Eastern Time, dragged down by the collapse of the semiconductor sector in the South Korean stock market, US tech stocks experienced a notable pullback, particularly exerting a direct sentiment transmission on US memory chip and AI hardware chains.
