Broadcom broke through its previous all-time high of $442.36, closing at $446.77 with strong volume. The catalyst is Dell's AI server earnings validating the entire AI infrastructure supply chain. AVGO is a direct beneficiary as a key AI networking and custom silicon provider. The stock hit $448.90 intraday. At $2T market cap, the breakout is technically significant.
Microsoft led the Mag 7 today as the software-sector-catching-up-to-semis trade accelerated. MSFT was up 9.1% in May after being down 15.7% through April. The narrative is shifting: Dell's results proved AI demand isn't just a chip story, it's flowing into enterprise software and infrastructure. Still down ~8% YTD and ~19% from its 52-week high ($555.45). Wedbush maintains a $575 PT; Phillip Securities recently upgraded to Buy with a $485 PT.
Classic buy-the-rumor, sell-the-news action. NVDA opened strong on Dell spillover, hit $217.86, then faded all day to close near the lows at $211.14. The stock has notably underperformed the broader semi index this month (NVDA ~+14% in May vs SOXX +24%). China chip smuggling headlines (Taiwan prosecutors investigating) added a headwind. Data center revenue hit a record $75.2B in Q1, up 85% YoY, but the market wants more at a $5.1T valuation.
Alphabet dropped 2.5% on what appears to be profit-taking after its massive run (+131% YoY, ATH of $408.61 hit recently). Multiple institutional holders have been trimming positions per recent 13F filings. No single catalyst, just a rotation day -- money flowed from GOOGL/META/AMZN into MSFT and AI infrastructure names.
| Ticker | Close | Change | Target Alloc | 52W High | vs High |
|---|---|---|---|---|---|
| NVDA | $211.14 | -1.45% | 30% ($90K) | $236.54 | -10.7% |
| TSM | $418.45 | -1.51% | 25% ($75K) | $430.44* | -2.8% |
| ASML | $1,612.76 | +0.44% | 20% ($60K) | $1,654.20* | -2.5% |
| AVGO | $446.77 | +4.73% | 10% ($30K) | $448.90* | ATH |
| META | $632.51 | -0.44% | Sell source -- down 20.6% from $796.25 ATH | ||
* Intraday high on May 29; 52-week highs may differ from recent session highs.
| Ticker | Close | Day Change | Note |
|---|---|---|---|
| AAPL | $312.06 | -0.14% | Flat. Near ATH ($313.26). Up 15% in May. |
| MSFT | $450.24 | +5.45% | Breakout. Software catch-up. Still -19% from ATH. |
| GOOGL | $380.34 | -2.51% | Profit-taking. Institutional trimming. |
| AMZN | $270.64 | -1.23% | Quiet. Near ATH ($278.56). |
| NVDA | $211.14 | -1.45% | Intraday reversal. Underperforming semis. |
| META | $632.51 | -0.44% | Weak. -9.4% for May. -20.6% from ATH. |
| TSLA | $435.79 | -1.43% | Giveback after +16% May. SpaceX IPO anticipation. |
| ASML | $1,612.76 | +0.44% | Steady. +112% YoY. Next earnings Jul 15. |
| TSM | $418.45 | -1.51% | Faded. Strong May overall. |
| AVGO | $446.77 | +4.73% | New ATH. Dell AI spillover. |
| CRWV | $109.53 | +2.50% | Bounced. Still avoid (insider selling). |
US-Iran deal decision: Trump said he'd make a "final determination" Friday. The outcome could move oil prices significantly Monday morning, which ripples into inflation expectations and rate-sensitive tech.
Summer pullback risk: S&P is up 18% from March 30 lows in just 39 trading sessions. Multiple strategists flagging that thinner June/July volumes could amplify any correction. The rally has been earnings-driven (Q1 profits +29% YoY), which is healthy, but valuations are stretched.
Semi sector froth: SOXX up 89% YTD. Micron doubled in May. These are numbers that invite profit-taking. A sector rotation out of semis into software (already starting with MSFT/DDOG moves) could temporarily dip your target entries.
Rotation urgency: AVGO just broke to ATH, ASML is near highs, TSM is pulling back slightly. The entry window on the full basket isn't getting easier. META's continued weakness supports the sell side. Consider executing at least a partial rotation into the names still below highs (NVDA, TSM) while setting limit orders for AVGO on a retest of $442.