A mixed recovery from Friday's bloodbath, with clear signals and a high-stakes week ahead.
Monday, June 8, 2026 · Market Close
Friday June 5 was the worst day for the Nasdaq since April 2025: the index plunged 4.2% after Broadcom kept its full-year AI guidance flat at "in excess of $100B" (market wanted a raise), and the May jobs report came in scorching hot (172K vs 92K expected). The VIX spiked 39.7% to 21.51. Money markets are now pricing in a Fed rate hike by year-end.
Monday was a modest bounce across most of the watchlist, with semiconductors recovering hardest. But several Mag 7 names continued to bleed, including Apple despite WWDC.
| Ticker | Close | Change | Signal |
|---|---|---|---|
| AAPL | $301.54 | -1.89% | WWDC Fade |
| MSFT | $411.74 | -1.18% | |
| GOOGL | $363.31 | -1.42% | |
| AMZN | $245.22 | -0.33% | |
| NVDA | $208.64 | +1.73% | |
| META | $585.39 | -1.28% | |
| TSLA | $408.95 | +4.59% | Big Bounce |
| ASML | $1,749.04 | +6.54% | Recovery |
| TSM | $426.80 | +2.80% | |
| AVGO | $396.60 | +2.82% | Entry Zone |
| CRWV | $102.37 | +1.97% |
What happened: Broadcom lost ~20% in two days (Thurs/Fri) after keeping full-year AI revenue guidance at "in excess of $100B" instead of raising it. The stock fell from ~$452 to $385.73. It bounced 2.8% Monday to $396.60.
Why it matters: The actual results were strong — Q3 revenue guidance of $29.4B beat the Street's $28.6B. The selloff was about sentiment, not fundamentals. Wall Street's consensus price target is $490 (24% upside). Post-earnings upgrades were almost unanimously bullish: JPMorgan $580, KeyCorp $575, Benchmark $545, Truist $550, Mizuho $530.
Consider: This looks like a tranche entry zone. AVGO is still 20% below where it was last week and deeply below analyst consensus. Risk factor: Wednesday's CPI could trigger another leg down if inflation comes in hot. A partial entry here with room to add after CPI may be the sharpest play.
What happened: Apple hit an intraday high of $317.40 (near all-time highs) as WWDC kicked off with the Siri+Gemini reveal, then reversed hard to close at $301.54 — a 5% intraday swing. Trading at 34x forward P/E, the stock is priced for AI perfection it hasn't delivered yet.
Why it matters: Ming-Chi Kuo flagged that Apple's AI ceiling is constrained by Google's Gemini models it doesn't control. UBS has a neutral rating with a $296 target. WSJ notes the stock has already priced in a successful AI pivot. The Barclays "Underweight" at $253 is the bear case.
Consider: Not an entry yet. If AAPL continues fading as the WWDC hype settles and the market digests what was actually announced, a pullback toward $280-290 would be interesting. For now, the intraday reversal pattern is bearish near-term.
What happened: ASML recovered almost all of Friday's 6.6% drop in a single day, surging 6.5% to $1,749. That kind of violent bounce typically means institutional buyers stepped in aggressively at the lows.
Why it matters: ASML has no fundamental issue — Friday's selloff was contagion from the Broadcom guidance disappointment and macro fears, not an ASML-specific problem. The quick recovery suggests the dip was treated as a buying opportunity by large funds.
Consider: If you're not in ASML, waiting for another dip may be worthwhile — the stock essentially round-tripped. If Wednesday CPI spooks the market again, ASML could offer another shot.
Almost all Broadcom analyst actions from June 4-5 were bullish despite the selloff:
| Firm | Rating | Price Target |
|---|---|---|
| JPMorgan | Overweight | $500 → $580 |
| KeyCorp | Overweight | $500 → $575 |
| Benchmark | Buy | $485 → $545 |
| Truist | Buy | $545 → $550 |
| Mizuho | Outperform | $480 → $530 |
| Goldman Sachs | Buy | $525 |
| Jefferies | Buy | $550 |
| Morgan Stanley | Overweight | $502 |
| Erste Group | Buy (upgrade from Hold) | — |
Average AVGO price target: $490 across 33 analysts. Current price: $396.60.
AVGO at $397 is the clearest setup on the watchlist. A 20% drop on intact fundamentals, with Wall Street unanimously raising targets. The risk is macro: Wednesday's CPI could extend the selloff if inflation runs hot. Consider a partial position now with room to add post-CPI.
AAPL's WWDC reversal is a warning sign — the market is pricing in AI execution Apple hasn't proven yet. Watch, don't chase.
The broader setup this week is binary: CPI and Oracle earnings on Wednesday will determine whether Friday's selloff was a healthy reset or the start of something deeper. Stay nimble.