Records across the board. Indexes at triple highs. AI demand signals validated overnight. Your META position is running hot.
META +3.74% to $635.26 yesterday, continuing the surge from $612 earlier in the week. Meanwhile ASML is -2.09% to $1,597.87, pulling back from $1,632 last week. Short interest on ASML rose 34.91% to 985K shares -- some profit-taking after a 17.87% one-month run.
This is the most favorable META-to-ASML spread you've seen in days. If you're executing the $300K rotation, META near $635 is as good a sell window as you'll get before the next leg.
TSM running higher (+2.52%) makes it slightly less attractive for entry. NVDA at $213 is essentially flat, within your target zone. AVGO at $421.86 is unchanged.
| Ticker | Price | Change | Note |
|---|---|---|---|
| META | $635.26 | +3.74% | Near all-time highs |
| AAPL | $310.85 | +0.82% | Quiet, near ATH |
| GOOGL | $388.83 | -0.01% | Flat |
| AMZN | $271.85 | +2.47% | SNOW deal tailwind |
| MSFT | $412.67 | -0.81% | Pentagon deal beneficiary |
| NVDA | $212.60 | -1.05% | Mild pullback |
| TSLA | $440.36 | +1.56% | Rebounding |
| ASML | $1,597.87 | -2.09% | Short interest +35% |
| TSM | $422.73 | +2.52% | Running with momentum |
| AVGO | $421.86 | -0.04% | Flat, holding |
| CRWV | $104.27 | -1.53% | Stay away confirmed |
MRVL reported last night. Revenue $2.42B (+28% YoY, in-line), adjusted EPS $0.80 (met consensus). Guided Q2 revenue to $2.7B vs. $2.6B estimate, adjusted EPS $0.93 vs. $0.90 consensus. CEO Matt Murphy: "Exceptional AI-related bookings." Raised full-year revenue guidance to $16.5B.
Stock dropped -4.6% despite the beat. Classic sell-the-news after doubling this year. The numbers validate AI demand across the semi supply chain -- good signal for NVDA, TSM, and AVGO.
Snowflake raised annual revenue guidance to $5.84B after Q1 beat ($1.39B revenue, +33% YoY; adjusted EPS $0.39 vs. $0.32 est). The $6B five-year deal with AWS for Graviton AI chips signals enterprise AI spend is accelerating, not decelerating. AI customer accounts jumped to 13,600.
This is a AMZN/AWS demand signal. Amazon ticked slightly lower pre-market on the deal cost side.
DELL +4% pre-market at $305+ after landing a $9.69B Pentagon contract to consolidate Microsoft 365 licenses across DOD, intelligence community, and Coast Guard. Saves Pentagon $422M/year.
Earnings today are the AI server bellwether: analysts expect continued strength in AI infrastructure orders (previously $12.1B in AI orders, guided $20B+ shipments). Watch for Q2 guidance on AI server demand -- directly relevant to the NVDA/AVGO thesis.
Micron doubled from $500B to $1T market cap in 48 days -- fastest ever, beating NVDA's 490-day sprint. UBS raised PT to $1,625 citing HBM memory sold out through 2026 and RAM shortage extending into Q2 2028. Retreating slightly pre-market after the blistering rally.
The memory shortage thesis is now consensus. This underpins the entire AI hardware stack that NVDA, TSM, and AVGO sit on.
Q1 GDP revised to 1.6% from 2.0% advance estimate. Consumer and business spending weaker than initially reported. GDI grew just 0.9% in Q1. This is the slowing-economy signal that makes rate cuts more likely -- bullish for growth/tech.
Oil crashed -5.5% (WTI $88.68, Brent $94.29) on reports of a U.S.-Iran framework deal, including restoring commercial shipping in the Strait of Hormuz within a month. Deflationary tailwind.
All three major indexes (Dow, S&P 500, Nasdaq) closed at simultaneous records yesterday for the first time since January 12. The market is risk-on.
Polymarket prices 46% probability of economic "overheating" by year-end (unemployment under 5%, inflation above 3.5%). The tension between slowing GDP and persistent inflation is the key Fed variable through summer.
1. Rotation decision point. META at $635 with ASML pulling back is the best spread you've seen. NVDA at $213 and AVGO at $422 are in zone. TSM at $423 is running slightly ahead of ideal entry.
2. DELL earnings after close. The AI server demand read will set the tone for semi supply chain into June. Strong guidance = another leg for NVDA/TSM/AVGO.
3. MRVL sold off on a beat. AI demand validated. The sell-the-news reaction is about positioning, not fundamentals. Good for the broader thesis.
4. GDP weakness + oil crash = rate cut setup. If this trend continues, the Fed has room to move. That's the macro tailwind tech needs to extend the rally.