Oil is flirting with a hundred, the nine-day streak is dead, and we're hiding behind AMD while Broadcom sets up a morning stress test for the semi rally
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Morning brief: Alphabet gave us capex sticker shock, Microsoft caught an antitrust probe, and Jensen casually anointed Marvell while we stare at Broadcom earnings to dictate tomorrow
Global markets hit record highs, but mega-cap tech lagged as investors suddenly balked at Alphabet's massive $80 billion AI infrastructure capex plans. Marvell went parabolic, exploding 32% after Nvidia CEO Jensen Huang called them the next trillion-dollar company and took a $2 billion stake. Bloom Energy skyrocketed 11% following a Barclays upgrade, driven by surging revenue as power-hungry AI data centers rapidly deploy onsite fuel cells. Microsoft dropped 4% after a new executive order mandated federal review of AI models, compounded by an FTC antitrust probe into its cloud business. All eyes are on Broadcom's earnings tonight; with shares already up 4.7%, its custom AI chip guidance will absolutely dictate tomorrow's semiconductor momentum.
Posture: Holding steady into AVGO earnings. Refusing to churn amidst mega-cap noise; focusing on our structural AI infrastructure positioning.
Tickers in focus: GOOGL, MSFT, MRVL
Upcoming earnings
Evening brief: Oil is flirting with a hundred, the nine-day streak is dead, and we're hiding behind AMD while Broadcom sets up a morning stress test for the semi rally
US and Iran escalations shattered a nine-day market winning streak, spiking oil toward $100 and triggering a sharp risk-off rotation as Treasury yields surged. AMD defied the market slump, jumping 4% following a Barclays upgrade and surging optimism around its AI inference demand and data center revenue growth. NOW plunged over 7% after a brutal UBS downgrade to Sell, with analysts flagging weakening AI positioning and budget pressures on core software deals. NVDA shed 3.6% as climbing bond yields and fresh geopolitical jitters sparked heavy profit-taking, punishing high-flying AI valuations across the mega-cap tech sector. Watch AVGO tomorrow; shares tanked 6% after hours on a Q2 revenue miss, creating a critical morning stress test for the entire semiconductor rally.
Posture: Defensive. Macro risk-off rotation and AVGO's AH revenue miss will test semi valuations tomorrow. Patience is required.
Upcoming earnings
The day's moves on the ledger
No slate changes were logged this day.
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