Tuesday, June 2, 2026 · 6:00 AM PT
Broadcom reports Q2 FY26 after close Wednesday, June 3. This is the semi thesis catalyst you've been tracking. The stock hit an all-time high at $466 intraday Monday and is trading at $480 overnight.
Consensus: EPS $2.40 (+52% YoY) on revenue of $22.1B (+47% YoY). AI revenue alone expected at $10.7B, up 140% YoY. Q3 guidance is the key read -- analysts expect ~$28.7B revenue (~80% YoY growth).
Analyst sentiment: 44 of 47 analysts rate Buy. HSBC raised PT to $600 (34% upside) on Monday citing H2 AI revenue ramp. UBS at $490. Options pricing a 9% swing either way by end of week -- that maps to $487 upside or $406 downside from Friday's close.
Setup: AVGO has beaten EPS estimates in each of the last four quarters (avg surprise 1.93%). The $10B buyback authorized in March signals management conviction at these levels. Stock trades at ~25x FY27 earnings on 61% EPS growth -- passes the GARP test. The question is whether Q3 guidance delivers the acceleration narrative.
Prev close $446.77 | 52W range $234.90 - $466.05 | Mkt cap $2.1T
Jensen Huang just called Marvell "the next trillion-dollar company" at Computex in Taipei on Tuesday. MRVL closed at $219 Monday (+7%) and is surging another 23% pre-market to ~$270, adding $44B+ in market cap.
Marvell's connectivity and custom AI chip capabilities are central to scaling disaggregated data center architectures. NVIDIA invested $2B in Marvell in March. Marvell guided custom chip revenue to surpass $10B by FY29, and interconnect revenue growth raised to 70% for FY27 (from 50% previously).
Watch for: This is a massive single-day move. If you're interested in MRVL, the gap-up may create a better entry on a pullback in coming days. The trillion-dollar call puts MRVL at 5x from here ($1,152 target implied). Not on the watchlist, but directly relevant to the semi thesis.
Prev close $219.43 | 52W range $58.61 - $225.14 | Mkt cap ~$240B pre-market
Meta is now 20% off its all-time high ($796) despite a Q1 blowout -- revenue $56.3B (+33% YoY), EPS $10.44 crushing $6.65 consensus by 57%. The selloff is entirely driven by forward capex concerns, not fundamentals.
At $600, META trades at ~22x trailing earnings -- the cheapest of the Mag 7. RBC reiterated Outperform with an $810 PT on June 1. Rosenblatt has a $1,015 street-high target. 62 of 67 analysts rate Buy or Strong Buy.
Potential opportunity: If the capex anxiety is overdone (and the $81.6B cash hoard suggests META can fund AI without operational harm), this 20% de-rating on a business accelerating at 33% growth is starting to look like a setup. No near-term catalyst though -- just value compression.
Prev close $632.51 | 52W range $520.26 - $796.25 | Mkt cap $1.6T
Alphabet announced an $80B equity capital raise late Monday to fund AI infrastructure -- the largest tech equity issuance ever. Breakdown: $10B private placement to Berkshire Hathaway, $30B underwritten public offerings, $40B at-the-market program starting Q3.
The dilution is real and explains the 3% pre-market drop. But this is also a signal of the scale of AI capex commitments. GOOGL has bought back 10%+ of float since 2020, so the dilution partially offsets prior repurchases. Long-term debt already at $77.5B.
Context: Stock is still up 20% YTD. The raise coincides with the SpaceX IPO (~June 12) and potential Anthropic/OpenAI IPOs, creating a crowded capital markets window.
Prev close $380.34 | 52W range $162 - $408.61 | Mkt cap $4.6T
CoreWeave was the first cloud provider to deploy Nvidia's Vera Rubin NVL72 system -- the next-gen AI rack featuring Nvidia GPUs, CPUs, and networking. Also set for Russell 3000 Index inclusion on June 27, driving institutional buying anticipation.
Contract backlog near $100B. Nvidia owns ~11% equity stake and may be increasing. Also invested in Tensormesh (AI inference optimization). Revenue up 112% YoY in latest quarter, though still unprofitable (EPS -$1.40).
Caution: Highly volatile, cash-burning, and momentum-driven. Not a position to size aggressively, but the Vera Rubin first-mover status and Russell inclusion are real near-term tailwinds.
Prev close $109.53 | 52W range $63.80 - $187.00 | Mkt cap $60B
OpenAI announced it's entering the robotics business. Sam Altman tweeted Sunday that OpenAI is hiring to build robots -- putting it in direct competition with Tesla's Optimus humanoid robot line. Tesla recently converted its Fremont Model S/X production line to Optimus manufacturing.
At $416, TSLA trades at ~380x trailing earnings. Wedbush's Dan Ives gives an 80% chance of a Tesla-SpaceX merger in 2027. Optimus Gen 3 reveal expected in coming weeks.
Prev close $435.79 | 52W range $273.21 - $498.83 | Mkt cap $1.6T
Friday, June 6 -- May Non-Farm Payrolls: Consensus 90K jobs (down from 115K in April), unemployment 4.3%, hourly earnings +3.4% YoY. Kalshi traders pricing 56% odds of a beat. The market wants a Goldilocks print -- strong enough to signal economic health, soft enough to keep rate cuts on the table.
Tuesday -- JOLTS Job Openings: Consensus 6.9M. Ninth consecutive month where unemployed outnumber openings.
Wednesday -- ADP Employment + ISM Services: ADP expected +118K. ISM Services expected just above neutral.
Iran / Oil: Tehran threatening to close the Strait of Hormuz. WTI at $90.75, Brent at $93.65. Energy costs remain a headwind for tech/data center economics.
Fed meeting June 16-17: Kevin Warsh's first as Chair. Markets now pricing rate hike more likely than cut in 2026.
CPI May -- June 10. SpaceX IPO expected ~June 12. Quadruple witching June 18.
Today (Tue): PANW (after close) -- EPS est $0.79, rev $2.94B
Wed: AVGO (after close) -- EPS est $2.40, rev $22.1B | CRWD | MDT | M
Thu: LULU | DOCU | RBRK | CIEN