Semis just had one of their best sessions in years — and an Intel double upgrade lit the fuse.
Bank of America upgraded Intel ( 9.3%) from underperform to buy with a significant price target hike. AMD 8%, Micron 11.7% followed. Nvidia closed 2.2%, while chip equipment names went further: Applied Materials 11.2%, Lam Research 12.7%, KLA 12.9%, ASML 9.5%.
Oracle (-9%) slumped despite an earnings and revenue beat — the market didn't like plans to raise $20bn in additional equity and debt for its AI buildout. That selloff actually helped lift equipment makers.
Space stocks surged ahead of SpaceX's market debut — Rocket Lab 9.3%, Intuitive Machines 15.5%, Redwire 14.9%, AST SpaceMobile 11.7%, Viasat 18.2% (awarded a multi-year U.S. Space Force contract), Virgin Galactic 21.7%.
Defense: General Dynamics 5.2% on a Jefferies upgrade to buy.
Adobe (-6.3%, -5.6% after-hours) fell despite an earnings beat — CFO departure in days.
Meme stocks: Beyond Meat 3.2%, Kohl's 9.1%, Krispy Kreme 7.7%, AMC 8.8%, BlackBerry 5.2%, Nokia 5.3%
Crypto stocks: Coinbase 4.2%, MicroStrategy 4.2%, Mara Holdings 7.8%, Gemini Space Station 7.4%, Bullish 5.4%, Circle Internet Group 4.7%
💬 Which sector do you think leads from here — semis, space, or defense?
🔍 AMD →
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