Friday, May 22, 2026 — Markets close ahead of Memorial Day weekend
The Dow surged 438 points to a new record above 50,600, fueled by progress in U.S.-Iran diplomatic talks. The S&P 500 closed at ~7,479 (+0.3%), posting its 8th consecutive weekly gain. Nasdaq edged higher on tech strength.
Counterweight: the 30-year Treasury yield hit 5.17% -- highest since 2007. Rising long-duration rates remain a macro headwind for growth multiples.
Markets closed Monday for Memorial Day. Positions are locked for three days.
Day 2 of the post-earnings sell-the-news. Hit an intraday low of $214.80, now sitting right in the $215-219 range you identified for entry.
Earnings recap (reported May 20): Revenue $81.6B (+85% YoY, beat $78.75B consensus). EPS $1.87. Data Center $75.2B (+92%). Q2 guide $91B crushed ~$86-87B Street. $80B buyback authorized. Dividend raised from $0.01 to $0.25/share. Jensen: "Demand has gone parabolic." Vera Rubin on track H2 2026.
Analyst response: Wall Street raised price targets to the $270-$325 range. Consensus ~$279-$298. Morgan Stanley modeling a $1T revenue scenario. Argus raised to $270. UBS raised target. JPMorgan raised target. Only Seaport stayed bearish ($180, Sell).
Broke through the previous 52-week high of $305.54 to close at a new all-time high of $308.82. Intraday high reached $311.40.
Post-Q2 earnings momentum continues: revenue $111.2B (+17% YoY, March quarter record), Services at $31B ATH, Greater China +28.1%. Cook said demand is "off the charts" but TSMC 3nm supply constraints are limiting fulfillment. Analyst consensus target ~$308.74 -- the stock just hit it.
Biggest gainer on the watchlist today. Up 48.8% YTD and 116% over 12 months. JPMorgan and Barclays recently upgraded. Consensus target ~$1,504 -- the stock is trading well above it.
EUV monopoly thesis intact. India's $11B chip manufacturing push (Tata partnership) adds another structural demand tailwind beyond TSMC/Samsung advanced node buildout.
| Ticker | Close | Change | % | Note |
|---|---|---|---|---|
| AAPL | $308.82 | +$3.83 | +1.26% | New all-time high |
| TSLA | $426.01 | +$8.16 | +1.95% | |
| META | $610.26 | +$2.88 | +0.47% | Rotation source stock |
| MSFT | $418.57 | -$0.52 | -0.12% | Flat |
| AMZN | $266.32 | -$2.14 | -0.80% | |
| GOOGL | $382.97 | -$4.69 | -1.21% | |
| NVDA | $215.33 | -$4.18 | -1.90% | Entry zone |
| Ticker | Close | Change | % | Note |
|---|---|---|---|---|
| ASML | $1,632.90 | +$40.90 | +2.57% | Breakout, above consensus PT |
| AVGO | $414.14 | -$0.43 | -0.10% | Flat |
| TSM | $404.52 | -$2.63 | -0.65% | |
| CRWV | $105.49 | -$2.09 | -1.94% | Stay away |
META to Semi Chain ($300K plan, formed May 21):
META closed at $610.26, ~23% below its 52-week high of $796.25. Consensus target $840. Selling here means taking a position well below what the Street thinks it's worth -- keep that in mind on timing.
| Target | Allocation | $ | Current Price | Signal |
|---|---|---|---|---|
| NVDA | 30% | $90K | $215.33 | In zone |
| TSM | 25% | $75K | $404.52 | Neutral |
| ASML | 20% | $60K | $1,632.90 | Extended |
| AMAT | 10% | $30K | -- | -- |
| AVGO | 10% | $30K | $414.14 | Neutral |
| Cash | 5% | $15K | -- | -- |
Monday, May 26: Memorial Day -- markets closed. Next trading day is Tuesday.
Tuesday, May 26 catalyst: Your CodeSignal coding round for Anthropic is at 1 PM PT. If you plan to execute any trades, set limit orders before the weekend or be ready for Tuesday morning.
Macro watch: The 30-year at 5.17% is the elephant in the room. If it pushes toward 5.25%+, expect growth names to face pressure regardless of fundamentals. Conversely, if the US-Iran talks produce a concrete deal over the weekend, energy prices drop and risk-on continues.