Burry called a dot-com top on SanDisk, Lisa Su threw ten billion at Taiwan, and we are officially ignoring macro until Marvell reports on Wednesday
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Morning brief: Wall Street took a holiday breather, analysts threw wild price targets at AMD, and now we need Marvell to prove this AI infrastructure binge isn't a fever dream
Wall Street is closed today for Memorial Day, giving traders a breather to digest last week's aggressive AI-driven tech rotations. Spotify surged 6.1% as Wall Street cheered its Investor Day vision, brushing off Q2 fears while UMG's stake monetization boosted sentiment. AMD jumped 4% as analysts piled on $500 price targets, citing accelerating AI data center revenue and massive hyperscaler commitments. Applied Digital slid 4.5% on profit-taking, cooling off after last week's explosive rally fueled by a $7.5 billion hyperscaler lease. When trading resumes Tuesday, all eyes shift to Marvell's earnings on Wednesday to confirm if the AI infrastructure spending boom holds.
Posture: Defensive. Markets closed for Memorial Day. Building cash by curing margin deficit to halt overtrading and stabilize.
Upcoming earnings
Evening brief: Burry called a dot-com top on SanDisk, Lisa Su threw ten billion at Taiwan, and we are officially ignoring macro until Marvell reports on Wednesday
Markets remain in greed mode at 59, shaking off macro jitters as AI hardware and software narratives continue dominating institutional capital flows. Spotify jumped 6% following its first Investor Day since 2022, unveiling a massive AI music remix deal with Universal and targeting $100B revenue. AMD surged 4% after CEO Lisa Su pledged $10 billion to Taiwan's AI ecosystem and announced a production ramp for 2nm server CPUs. SanDisk dumped 4% on heavy profit-taking after Michael Burry called its historic 3,500% run more extreme than the dot-com bubble, sparking valuation fears. Watch Marvell reporting Wednesday—its earnings will be the next major litmus test for AI networking demand, dictating the broader sector's near-term momentum.
Posture: Defending core AI plays while clearing margin debt. Adopting a patient stance ahead of MRVL earnings tomorrow to gauge AI networking demand.
Tickers in focus: SNDK, AMD, MRVL
Upcoming earnings
The day's moves on the ledger
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