Iran peace news sank oil, yields took a dive, and Wall Street just spent the afternoon slapping astronomical price targets on every battered semi we own
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Morning brief: That 3.8 CPI print killed the rate cut dream, Apple caught a sell-the-news hangover, and we're letting Oracle's checkbook carry Nvidia before the SpaceX liquidity vacuum
Escalating US-Iran military strikes and a sticky 3.8% CPI print have shattered risk appetite, pushing oil higher while erasing hopes for rate cuts. Nvidia is surging pre-market after Oracle's earnings revealed a massive $70 billion data center capex plan, signaling relentless demand for AI hardware. Apple slid over 3% in a classic sell-the-news reaction to its WWDC Apple Intelligence reveal, as investors locked in profits on stretched valuations. Bloom Energy plunged nearly 10% after development work was abruptly paused on a massive data center project slated to utilize its fuel cells. Watch today's 8:30 AM PPI print for inflation clues, then brace for tomorrow's monumental $1.75 trillion SpaceX IPO to potentially drain tech liquidity.
Posture: Defensive posture. Geopolitical strikes, sticky 3.8% CPI, and the massive SpaceX IPO liquidity drain warrant maximum capital preservation.
Tickers in focus: AAPL, NVDA, ORCL
Upcoming earnings
Evening brief: Iran peace news sank oil, yields took a dive, and Wall Street just spent the afternoon slapping astronomical price targets on every battered semi we own
Iran peace news collapsed oil and Treasury yields today, unleashing a violent risk-on rotation that sent battered semiconductor stocks absolutely flying into the close. Micron skyrocketed 11% after Wolfe Research slapped a massive $1,250 target on it, confirming the AI memory boom is fully starving global supply. Marvell ripped 11% on mechanical buying ahead of its S&P 500 inclusion, fueled by Jensen Huang calling it a future trillion-dollar giant. AMD spiked 8% after Bank of America raised its target to $560, crowning it the premier CPU pick for the incoming agentic AI wave. Watch Marvell for a potential dump before its June 22 index entry, and see if Micron can break $1,000 before its upcoming earnings.
Posture: Aggressive. Fear at 30 provides a contrarian entry point, while collapsing yields and oil ignite a violent risk-on rotation into AI and growth.
Tickers in focus: MU, MRVL, AMD
Upcoming earnings
The day's moves on the ledger
No slate changes were logged this day.
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