amit

Took some trades on SpaceX $SPCX today. Bought and sold for a few bucks, but this thing is absurdly volatile, which ironically will attract many traders.

130M shares traded after 500M traded on Friday. 

Options open up tomorrow and I would bet that $SPCX is in the top 5 daily, like $NVDA and $TSLA, for most calls/puts traded every single day. 

Holding a $2.3T valuation on $20B of revenue, Elon said over the weekend he feels revenue can 50x by 2030 to $1T. 

Who’s buying?

$SPCX +11%Source: amit

$AAPL $GOOGL $NVDA 

Apple, Google, and Nvidia team up to level up Apple's AI for more compute: 

- Apple said it worked with Google and NVIDIA to bring its Private Cloud Compute approach to Google Cloud infrastructure.

- Apple’s largest AI model, AFM Cloud Pro, will run on Google Cloud infrastructure, according to Apple executives at WWDC.

- Apple said they built its own world knowledge service that runs inside its Private Cloud Compute platform, with more complex Apple Intelligence requests routed there while many requests stay on-device.

- Apple emphasized that it is not using Google Search as the foundation of the system, and said it is now on the third generation of Apple Foundation Models.Source: amit

I’m still trying to understand why we got that -4% day on the Nasdaq $QQQ last Friday.

The last time we had that bad of a day was April of 2025. 

I think the question on everyone’s mind is if that downside move was the start of something bigger or if it was a one off event.

The core reasons I can see for why we had a selloff: 

- Jobs report was TOO good, meaning the chances of a rate cut are virtually gone if we have so many jobs because it will lead to more inflation. Good news is bad news.

- SpaceX $SPCX will require tons of liquidity so people are selling assets that have done really well to free up money.

- Markets were going vertical for a month, we were bound to get some pain if we had a bad earnings and $AVGO wasn’t bad but a lack of guidance raise was enough to be used as the excuse.

- Meta $META having the dilution rumor leak during the worst part of the day only made people more concerned the capex funding is entering an entirely new stage which has implications for Amazon and Microsoft as well after we saw the Google $85B dilution news. 

- Crypto liquidations never help and last week led to a momentum based drawdown across all of crypto which also hurt risk on parts of the equity market like tech. 

All of these seem to be reasonable arguments, I just wonder if they all are *enough* to begin a much broader sell off. Is the earnings growth going to continue in Q2? If it does, will the street once again give stocks the benefit of the doubt to go higher if earnings are, or if earnings slip, do stocks slip? Does Kevin Warsh actually raise rates because of a healthy labor market or does he wait it out? Does this Iran situation get resolved soon or will it continue to be the cloud lingering over the market?

This week will be really important but there are many more questions than answers for if last week’s selloff could turn into a more broad based drawdown over the coming months.Source: amit

$NVDA legit carrying the market today 😂Source: amit

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Marvell is up around 50%, on pace for its best day ever and adding more than $80B in market cap, after Jensen Huang called $MRVL “the next trillion-dollar company” at Computex.

2. OpenAI Codex now has 5M+ weekly users, with roughly 20% coming from non-developer roles, according to Bloomberg. OpenAI is expanding Codex beyond software engineering with new plugins for public equity investing, banking, sales, internal workplace apps, and professional document editing, with legal and corporate finance tools reportedly coming next.

3. US JOLTS job openings came in at 7.62M in April, well above the 6.87M estimate.

4. $META Meta is scaling back parts of its employee tracking tool after staff backlash, according to The Information. The tool, called the Model Capability Initiative, collects computer usage data to help train AI models on how employees complete tasks. Meta is now adding stronger privacy protections, some employee exemptions, and a 30-minute pause option, while saying activity will be summarized instead of capturing exact words typed and raw data access will be limited to a small group of engineers.

5. Iran says the IRGC Aerospace Force has carried out “precise and intensive missile strikes” on U.S. military bases in Kuwait in response to U.S. strikes on Qeshm Island, marking another major escalation in the region. Kuwait’s air defenses reportedly intercepted incoming missiles and drones, while oil prices are hovering near $95 a barrel and U.S. futures are moving lower as markets price in rising geopolitical risk.

The top 10 most active options today by contracts traded were $NVDA with 3.6M contracts, $TSLA with 1.8M contracts, $AAPL with 1.1M contracts, $MSFT with 856K contracts, $GOOGL with 757K contracts, $INTC with 685K contracts, $NOK with 638K contracts, $META with 637K contracts, $MSTR with 618K contracts, and $AMZN with 615K contracts. Nvidia led the market by a wide margin with nearly 3.7M options contracts traded, while Tesla followed with 1.8M and Apple crossed 1.1M.

6. $BTC Bitcoin sold off sharply after Strategy $MSTR disclosed a rare sale of 32 BTC for about $2.5 million, its first Bitcoin sale in years, with proceeds reportedly used to fund preferred stock dividend payments. The sale rattled crypto sentiment because Michael Saylor has long been viewed as the market’s most committed “never sell” Bitcoin holder, and investors saw even a tiny sale as a symbolic shift. Bitcoin fell below $68,000, while $MSTR dropped more than 9% as the market questioned whether Strategy could be forced to sell more BTC if funding pressures rise. Analysts noted the sale was financially small compared to Strategy’s overall holdings, but the psychological impact was much bigger because it challenged the company’s core Bitcoin-holding narrative.

7. Palo Alto Networks $PANW reported a strong Q3, with revenue rising 31% YoY to $3.0B and adjusted EPS of $0.85, both ahead of estimates. Its next-gen security ARR grew 60% YoY to $8.1B, while RPO rose 36% to $18.4B. The company also raised its full-year outlook, guiding for about $11.4B in revenue and adjusted EPS of $3.77 to $3.79, as demand accelerates from customers securing AI deployments at scale.

8. A $CRWV CoreWeave-linked data center raised $900M in high-yield debt, according to Bloomberg. The 5-year bonds priced at par with a 7.5% yield, with proceeds funding a build-to-suit hyperscale data center near Chicago that is fully leased to $CRWV for 15 years, representing about $2.2B in future revenue. AI data center developers have now raised more than $27B from junk bonds this year.

9. Foreign ownership of U.S. stocks has climbed to a record $20 trillion, now representing about 19% of the entire U.S. equity market, nearly triple its share in 2000. Passive funds have also reached a record, with mutual funds and ETFs now holding $17 trillion, or roughly 15% of U.S. equities, after tripling their ownership share since the 2008 financial crisis. Meanwhile, active mutual funds continue to lose ground, with ownership falling to $11 trillion, or about 10% of the market, the lowest share since the early 1990s.

10. Elon Musk’s SpaceX shares would reportedly be locked up for 366 days after the company’s IPO.  At the current $SPCX valuation, Elon is set to become the world's first trillionaire later this month. 

11. $UBER Uber is capping AI coding tool spending at $1,500 per employee per month after reportedly burning through its 2026 AI budget in just four months.

12. GameStop $GME reported its highest quarterly net income ever at $389.6M, along with record Q1 operating income of $143.3M. Net sales rose 14% YoY, driven by collectibles, while cash, securities, digital assets, receivables, and pledged collateral totaled $9.7B. $GME approved a $2 billion share repurchase authorization through June 2, 2029, while Shopify $SHOP increased its buyback program by $3 billion, bringing the total authorization to $5 billion.

WALL STREET IS THE GREATEST SHOW ON EARTH.Source: amit

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. The Nasdaq $QQQ fell as much as 5.3% intraday, marking one of the sharpest intraday drawdowns we’ve seen in years. The last time we came close to that kind of move was just last Friday, and before that, you had to go back to April 2025. Goldman noted that today’s NDX intraday move was the largest in the last three years. However, buyers stepped in aggressively off the lows, and $QQQ finished down 1%. This is the second trading session within 3 days of historic intra-day drawdowns across tech. 

2. President Trump today said Iran shot down a U.S. Apache helicopter while it was patrolling over the Strait of Hormuz, with two pilots involved and both reportedly safe and uninjured. He framed the incident as a direct attack on the United States and said the U.S. must respond, raising the risk of escalation in one of the world’s most important oil-shipping corridors.

3. China is preparing a roughly $295B, five-year plan to build a nationwide AI data center network, with much of the infrastructure expected to be operated by state-backed firms. Beijing is also aiming to source 80%+ of key technology domestically, leaning on local suppliers like Huawei, which could further limit opportunities for U.S. chipmakers like $NVDA and $AMD in China’s AI infrastructure buildout.

4. The top 10 most active options today by contracts traded were $NVDA with 3.4M contracts, $TSLA with 2.7M contracts, $AAPL with 1.7M contracts, $MU with 731K contracts, $AMZN with 721K contracts, $MSFT with 716K contracts, $INTC with 629K contracts, $MRVL with 524K contracts, $NOK with 494K contracts, and $PLTR with 493K contracts. Nvidia led options activity with more than 3.4M contracts traded, followed by Tesla at 2.7M and Apple at 1.7M.

5. Anthropic launched Claude Fable 5, its first broadly available Mythos-class model and its most capable general-use Claude model to date. The company also introduced Claude Mythos 5, which runs on the same underlying model but offers fewer restrictions for trusted-access users. Anthropic said Mythos-class traffic will now be retained for 30 days to support safety monitoring.

6. U.S. tech dispersion is getting extreme. Over the past three months, the top 20% of tech stocks have beaten the bottom 20% by roughly 120 percentage points, the second-largest gap on record. The only higher reading came during the Dot-Com Bubble, when the spread peaked around 135 percentage points. This gap has quadrupled over the last year, widening even faster than the 1999–2000 surge. The strongest tech names are up about 110% over the last three months, close to February 2000 levels, while the weakest 20% are down roughly 10%.

7. Robinhood $HOOD reported strong May 2026 monthly metrics, with growth across customers, assets, trading volumes, and interest-earning assets. Funded customers rose to 27.7M, up 110K M/M and 1.76M Y/Y. Total platform assets hit $377B, up 9% M/M and 48% Y/Y. On activity, equity notional volume was $315B, up 27% M/M and 75% Y/Y, while options contracts traded reached 231M, up 3% M/M and 29% Y/Y. Crypto notional volume was $12.2B, up 3% M/M and 4% Y/Y, and event contracts traded surged to 3.9B, up 22% M/M, showing continued momentum in Robinhood’s newer prediction/event contract business.

8. The Social Security retirement trust fund in the US is now projected to run out in 2032, just six years from now, according to the latest trustees report from the Social Security Administration. If Congress does not act before then, only about 78% of scheduled retirement benefits will be payable, meaning roughly one in every four dollars of promised benefits would effectively disappear. Social Security has never missed a payment in its history, but the funding timeline has not improved, putting more pressure on lawmakers to address the shortfall before 2032.

9. Baird reiterated an Outperform rating on $PLTR Palantir with a $200 price target after attending AIPCon 10, saying investors still underappreciate several parts of the story. The firm highlighted Palantir’s expanding partner ecosystem, especially with Accenture, Deloitte, Bain, and Nvidia, which could broaden its reach across major enterprise and regulated-industry customers. Baird also pointed to AI Forward Deployed Engineers as a major productivity unlock, arguing they could help Palantir scale with limited headcount growth. The report emphasized that Palantir’s moat is more than just its codebase, citing nearly two decades of field experience, customer feedback loops, and deep deployment expertise. Baird also said Palantir’s outcome-focused approach is fundamentally different from AI labs and traditional consulting firms, and flagged AI-powered security as a growing opportunity.

10. SpaceX $SPCX told investors it is targeting its first orbital AI compute demonstrations by late 2027, ahead of the “as early as 2028” timeline referenced in its IPO filing, per Reuters. Executives said the early deployments would be demonstrator systems designed to prove the concept before a broader commercial rollout. The first AI satellites are expected to use Nvidia $NVDA chips, with compute power comparable to an Nvidia GB300 rack. SpaceX has also requested approval to launch up to 1 million space-based data-center satellites. Its IPO priced at $135/share, targeting a $1.75T valuation, with trading expected to begin Friday on Nasdaq under $SPCX.

11. Perplexity CEO Aravind Srinivas told CNBC the company still plans to go public in 2028, regardless of how other major AI IPOs like Anthropic, OpenAI, or SpaceX perform in the market. He described SpaceX as a potential “leading indicator” for the coming wave of AI mega-IPOs, while also saying AI spending is starting to shift away from “mindless spending” and toward more cost-efficient models that can deliver the same results at lower prices.

12. In May, 43.6% of Americans said they were financially worse off than a year ago, the highest reading since January 2023. It was also the third straight monthly increase, marking the longest streak of worsening financial sentiment since 2022. For context, this measure peaked at 51.3% in June 2022, while before the pandemic it never topped 20% during the 2017–2019 period. Looking ahead, 36% of U.S. consumers expect to be financially worse off over the next year, the second-highest reading since October 2022 and roughly double the average seen from 2015 to 2019.

WALL STREET IS THE GREATEST SHOW ON EARTH.Source: amit

looks like Trump missed his son’s wedding to end the war

S&P 500 $SPX PERPETUAL FUTURES IMPLY A $7600 OPEN 

market likes it Source: amit

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY.

Here's a full recap:

1. Iran announced a full shutdown of the Strait of Hormuz following U.S. strikes on southern Iran, sharply escalating tensions in one of the world’s most critical oil-shipping routes. Iranian state media also said Iran’s military attacked the U.S. Fifth Fleet in Bahrain in response to the strikes. President Trump is now holding a White House Situation Room meeting to discuss potential additional strikes, per Axios. Secretary of War, Pete Hegseth, today said: "We will be hitting Iran hard tonight, they have had their time to negotiate and these attacks are not a restart to the war but to set the terms for the deal."

2. Oracle $ORCL reported FY26 capex of $55.7B, above its prior $50B plan, after Q4 capex reached $15.9B, and guided FY27 capex to a massive $90B–$95B, with around $70B expected to be cash capex as it ramps AI data center spending. The company also plans to raise roughly $40B through debt and equity, including its $20B ATM program, to fund the buildout. In Q4’26, Oracle reported revenue of $19.2B, slightly above estimates and up 21% YoY, adjusted EPS of $2.11, beating estimates and up 24% YoY, operating income of $8.6B, ahead of expectations, and cloud revenue of $9.9B, up 47% YoY.

3. Palantir $PLTR CEO Alex Karp made several notable comments on CNBC about Anthropic, AI labs, Maven, and why Palantir is winning with enterprises. On Anthropic CEO Dario Amodei, Karp said “most of the things they talk about in public are running on Palantir,” adding that Amodei has gone from being “way behind” to “ahead” and that he genuinely believes what he is saying. Karp also said the public has only seen older versions of Maven, arguing Americans would be “positively surprised” by the advances in U.S. defense technology. More broadly, he criticized AI labs for operating with what he called a “hyper-religion of hyper-optimism,” saying they believe they can solve all problems — including human nature and even the problems they create themselves. His bigger point was that the models alone do not create value; the real value comes from implementation, deployment, and turning AI into actual workflows, which is why Palantir is winning with enterprises.

4. U.S. inflation came in line with expectations in May, but remained elevated. Headline CPI rose 4.2% YoY, matching estimates, while core CPI increased 2.9% YoY, also in line with expectations. It marks the hottest inflation reading since 2023, but because both headline and core CPI matched what the market was looking for, the report was more about confirming inflation remains sticky than delivering a major surprise.

5. Citadel Securities is making a simple point in its new “Tokenomics” note: AI may be revolutionary, but it still has to obey economics. As token bills rise, companies are being forced to think about compute costs, power, cooling, memory bandwidth, and inference budgets. Citadel says the market is already shifting toward cheaper “good enough” models, creating a split where only the biggest players can afford frontier AI at scale. 

6. OpenAI is reportedly considering major price cuts for its AI services as it looks to win more enterprise customers from Anthropic, per WSJ. The company is weighing significant reductions to token pricing, a move that could pressure profit margins across the AI industry given the massive compute costs required to run advanced models. The push comes as Anthropic’s Claude Code has gained traction with software engineers and helped the company rapidly grow revenue, forcing OpenAI to compete more aggressively on price. A broader AI pricing war could benefit customers by lowering costs, but it may also make the economics tougher for both OpenAI and Anthropic as enterprises look for cheaper ways to use AI at scale.

7. The top 10 most active options today by contracts traded were $TSLA with 3.6M contracts, $NVDA with 3.2M contracts, $AAPL with 1.7M contracts, $AMZN with 821K contracts, $SMCI with 696K contracts, $MSFT with 604K contracts, $META with 579K contracts, $ORCL with 569K contracts, $MU with 529K contracts, and $HOOD with 506K contracts. Tesla led the market with more than 3.6M options contracts traded, followed by Nvidia at 3.2M and Apple at 1.7M.

8. Trading in leveraged and inverse ETFs just hit a record. Total notional volume across U.S.-listed leveraged and inverse ETFs surged to $90B on Tuesday, the highest ever and more than triple the level from a year ago. That volume represented roughly 50% of all AUM in the entire leveraged/inverse ETF universe. The 3x short semiconductor ETF $SOXS alone traded more than 1.3B shares, marking the third-largest single-session volume for any U.S.-listed ETF in the last 20 years. The only bigger ETF volume days came from $QLD and $SSO, both during the 2008 Financial Crisis.

9. OpenAI is reportedly in talks to lease a proposed 10-gigawatt data center campus on federal land in Ohio, per The Information. The project would be built by SoftBank’s SB Energy on Department of Energy land in southern Ohio, with OpenAI controlling the equipment under a 20-year lease. Payments would begin once the site becomes operational, with the first phase expected in 2028. Nvidia $NVDA is expected to supply the hardware and provide a financial guarantee tied to both OpenAI’s lease obligations and SB Energy’s financing, further deepening Nvidia’s role in the AI infrastructure buildout.

10. PIMCO is warning that a new credit-loss cycle is underway, with defaults likely to rise sharply among lower-quality borrowers, including leveraged companies and parts of private credit. The firm says markets may be too complacent about the risks, especially as AI-driven disruption could pressure heavily indebted businesses that are already vulnerable. Against that backdrop, PIMCO favors intermediate-term government bonds, citing recession risk, persistent uncertainty, and the potential for future central-bank rate cuts.

11. SpaceX’s IPO has reportedly drawn demand for more than 4x the shares available, underscoring massive investor appetite for the listing. The company is aiming to raise roughly $75B at a $1.8T valuation, which would make it the largest IPO ever and surpass Saudi Aramco’s record. Shares are expected to begin trading on June 12 under the ticker $SPCX.

12. JPMorgan said U.S. equity futures saw $21B of net selling last week, with most of the pressure coming Friday in S&P 500 and Nasdaq 100 contracts. However, that selling was more than offset by $26.8B of ETF inflows, showing investors were still putting money to work despite the volatility. Fixed income ETFs also saw strong demand, while commodities and some emerging market funds faced redemptions. Overall, JPMorgan said investors rotated across sectors but remained broadly long equities even as market swings picked up.

WALL STREET IS THE GREATEST SHOW ON EARTH.Source: amit

$HOOD back at $100 is really nice to see, but it's also because of some core catalysts that the market is pricing in:

- tapping into agentic trading TAM which can seriously scale trading volumes as it grows

- the world cup, in the first few days, has already been MASSIVE for prediction markets volume which can substantially increase Q2/Q3 earnings estimates, especially since $HOOD operates some of the volume on their own exchange now

- rate cut narrative is bullish for all tech stocks, would be very bullish for trading volumes and oil below $80 can help put cuts back on the table

- Trump accounts growing fast on Robinhood

- insiders have bought $50M worth of stock at around $80, signaling that directors feel pretty bullish that the worst may have been priced in

Robinhood fell last Q because of 15% rev growth and misses on EPS/Revenue as the street expectations were still too high. Although they have tough comps for the rest of the year, the new TAMs they are tapping into is likely what the street is frontrunning even without seeing the earnings.

Additionally, the BIGGEST thing that has happened for $HOOD in the past month is the divergence from $BTC. If it was really trading with Bitcoin, it should have barely been above $75 right now. The fact that the other parts of the business are seen independently from Bitcoin is VERY good and if that continues AND $BTC eventually comes back, it could really set them up for a strong end of year.Source: amit

A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY. 

Here's a full recap:

1. $NVDA reported a massive Q1 2026, with revenue reaching $81.6 billion, up 85% year over year. Data Center revenue hit $75.2 billion, up 92%, while EPS rose 135% to $1.87. Gross margins expanded to 75%, up 14% year over year. Nvidia also guided for $92 billion in Q2 revenue, announced a new $80 billion share buyback, and increased its quarterly dividend from $0.01 to $0.25 per share. The stock was slightly down to flat after hours. 

2. SpaceX officially filed for a Nasdaq IPO under the ticker $SPCX, giving investors the first full public look at the combined SpaceX, Starlink, X, and xAI company. The filing shows 2025 revenue of $18.67 billion, up 30%, but a $4.94 billion net loss after posting a $791 million profit in 2024. The company reported 9,600+ Starlink satellites, about 10.3 million Starlink subscribers across 164 countries, 1GW+ of AI compute nameplate draw, roughly 350 million daily posts, and 550 million monthly active users. Anthropic has also agreed to pay SpaceX $1.25 billion per month through May 2029 for AI compute capacity, with ramping in May and June 2026 at a reduced fee. SpaceX will be a controlled company, with Elon Musk serving as CEO, CTO, and chairman while retaining 85% voting control, meaning he can control major shareholder decisions and the company does not expect to pay Class A dividends anytime soon.

3. $PEP plans to raise prices on smaller chip bags as PepsiCo faces higher costs in the U.S., continuing the broader trend of food companies passing inflation and input cost pressures on to consumers.

4. $GOOGL just announced a new $15 billion investment to build AI infrastructure in Missouri, expanding Google’s U.S. data center and AI compute footprint as competition around AI capacity continues to accelerate.

5. OpenAI is reportedly preparing to file for an IPO as soon as Friday, according to WSJ. The company is working with Goldman Sachs and Morgan Stanley on a draft prospectus and could file confidentially with regulators in the coming days or weeks. OpenAI is aiming to be ready for a public listing as early as September, though the timeline could still change. The move comes after OpenAI cleared a major legal hurdle in Elon Musk’s case against the company.

6. $BABA Alibaba announced a new AI chip called the Zhenwu M890, which Alibaba says delivers 3x the performance of its previous-generation Zhenwu 810E chip. According to CNBC, the new processor includes 144 GB of GPU memory and interchip bandwidth of 800 GB per second, highlighting Alibaba’s push to strengthen its in-house AI infrastructure and compete more aggressively in the AI compute race.

7. Anthropic’s Q2 revenue is reportedly set to more than double to $10.9 billion, with the company also expected to post its first operating profit, according to the WSJ. Q2 operating profit is projected at $559 million, a major shift from prior investor materials that did not expect full-year profitability until at least 2028. WSJ says the figures were shared with investors during an ongoing funding round that could push Anthropic’s valuation above OpenAI’s. One caveat is that Anthropic may not remain profitable for the full year as compute spending ramps, and the operating profit figure excludes stock-based compensation.

8. April FOMC minutes showed officials generally expect the rate pause to last longer than previously anticipated, with many favoring the removal of the easing bias from the statement. A majority said further policy firming could be appropriate if inflation remains persistently above 2%, with upside risks tied to energy prices, tariffs, and Middle East uncertainty. Several officials said rate cuts could still come later this year if the conflict eases and inflation pressures fade. Labor market conditions are expected to remain stable in the near term, though downside employment risks remain. Almost all officials supported holding rates at 3.50%-3.75%, while one preferred a 25 bps cut.

9. China reportedly added Nvidia’s $NVDA China-specific RTX 5090D V2 gaming chip to a customs banned list last week during Jensen Huang’s visit to Beijing, according to FT. The chip was designed to comply with U.S. export controls and is used by gamers, animators, and AI developers for smaller workloads. The banned list also initially included Nvidia’s H200 and H20 AI chips. Even after U.S. approval for H200 sales to firms like Alibaba and Tencent, shipments remain blocked by Chinese customs.

10. Jeff Bezos in a new interview said today that higher taxes on the wealthy will not solve America’s fiscal problems, arguing that even doubling the billions he already pays would not address the underlying issue of government policy. He also said he plans to give away most of his wealth during his lifetime. Bezos criticized government inefficiency by comparing it to Amazon, saying that if Amazon operated like New York City’s school system, packages would take six weeks, cost $100 to deliver, and still arrive with the wrong item. He also said space data centers are “very realistic” and “will happen,” though a 2-3 year timeline is probably too ambitious.

11. $MU said at JPM’s Boston conference that demand continues to grow and is still outpacing both Micron’s and the industry’s ability to supply because of persistent structural factors. Management emphasized that “cost is a religion,” the balance sheet has “never been stronger,” and the company remains focused on meeting customer demand with higher-quality products. Micron also said strategic customer agreements are helping improve planning and visibility. The company added that its financial outlook has strengthened since the last earnings call and that it is on track for another substantial record free cash flow quarter in fiscal Q3.

12. $INTU reported a strong Q3 while also announcing plans to cut more than 3,000 roles, or about 17% of its workforce. Revenue came in at $8.6 billion, up 10% year over year and above estimates, while adjusted EPS of $12.80 also beat expectations. Intuit raised its FY2026 guidance to $21.34 billion-$21.37 billion in revenue and $23.80-$23.85 in adjusted EPS, while guiding Q4 EPS well above estimates. 

WALL STREET IS THE GREATEST SHOW ON EARTH.Source: amit

these bond yields spiking is so, so bad but it’s also like who cares cause earnings aren’t slowing down so…

unless the market eventually starts to care

last time we were even close to 4.7% on the 10-year, S&P was down 30% 😂

AI capex is literally the only story keeping this party going and it simply cannot slow down

but once again, this is a dip for ants, the parabolic moves up make this dip look like these stocks are just going back to normal which ironically might be “the dip”

funnily enough, software down intraday as semis pump again 😆

the market is just torn on these sectors but also refuses to care about bonds and oil

still not extreme greed yet eitherSource: amit