SPX spent nearly two weeks consolidating above the major breakout level and is now pushing higher again.
Frustration is building as dip buyers never really got a chance to step in. Source: TME
Apple issued a better-than-expected revenue forecast for the current period after beating on sales and earnings in the fiscal second quarter.
The stock rose about 3% in extended trading. Sales for iPhones missed estimates for the second time in three quarters, the only significant number that came up short of expectations in Thursday’s report. Revenue climbed 17% from $95.4 billion a year earlier, Apple said. It was the first time the company faced Wall Street since the announcement last week that Tim Cook will be stepping down as CEO after 15 years on the job. Apple said on the earnings call that revenue in the June quarter will increase between 14% and 17% from a year earlier. Analysts were expecting growth of 9.5% to $103 billion, according to LSEG. The company’s board authorized an additional $100 billion in stock repurchases and declared a cash dividend of 27 cents per share, up 4%. Sales of iPhones rose 22% in the quarter from a year earlier. Like other consumer electronics companies and device makers, Apple faces supply chain constraints, largely due to the global memory shortage that’s being driven by soaring artificial intelligence demand. Meta and Microsoft said Wednesday that higher memory prices contributed to their increased capital expenditures forecasts for the year. Cook said on the earnings call that the iPhone 17 is now the “most popular lineup in our history” and noted that overall revenue beat guidance “despite supply constraints.” CFO Kevan Parekh said the company faced supply constraints on iPhones and Macs. $AAPL Apple Q2 FY26 (March quarter): 📱 Products +17% Y/Y to $80.2B. 💳 Services +16% Y/Y to $31.0B. • Revenue +17% Y/Y to $111.2B ($1.6B beat). • Operating margin 32% (+1pp Y/Y). • EPS $2.01 ($0.07 beat). APPLE $AAPL GUIDE June Quarter Guide: 🔹 Revenue: Expected to grow +14% to +17% YoY (Est. +9.1%) 🟢 - “best view of constrained supply” 🔹 Services: Expected to grow YoY at a rate similar to March quarter, excluding FX tailwinds 🔹 Gross Margin: 47.5%-48.5% Other Notes: 🔹 iPad faces a difficult compare from the A16-powered iPad launch in the prior year 🔹 March quarter FX was a 2.5-point tailwind to total company growth, with services slightly more favorable Commentary: 🔸 “We’re providing assumes that global tariff rates, policies and their application remain in effect as of this call, and the global macroeconomic outlook does not worsen from today.” Source: WOLF, CNBC
WHAT A SHORT SQUEEZE...
On April 1st, the US-Iran war was in full swing, oil was at $115, the Strait of Hormuz was closed, recession fears were everywhere, and hedge funds were at their most bearish positioning in years. Every major bank was warning of a market crash. Then the ceasefire hit. Oil crashed 22% and Every hedge fund that was short had to cover immediately. Every investor sitting in cash had to chase the rally. The result: - Nasdaq: +16% in April, New all time high. - S&P 500: +11% in April, New all time high. - Russell 2000: +12% in April, New all time high. - Dow Jones: +7% in April. Three major indexes hitting all time highs in the same month while an active war was happening is something that has almost never occurred in market history. Source: Bull Theory
The S&P gained 14.7% annualized during Powell's tenure; third best for Fed chairs since 1970
Source: Bespoke
Semiconductors now represent almost 15% of AC MSCI World market capitalisation and are now the largest sector overall.
Source: SocGen, TME
The cracks inside OpenAI are deepeningn and the numbers don’t lie. When your own CFO raises concerns, it’s a serious signal.
Here’s what is happening: missed user and revenue targets, while ChatGPT rapidly loses share to Google’s Gemini. Sarah Friar has reportedly warned about funding future compute and pushed back on Sam Altman’s aggressive IPO timeline. Meanwhile, massive data center commitments could burn hundreds of billions before profitability, even after record fundraising. Now the board is questioning spending, and legal pressure from Elon Musk is building. A company valued at $852B—but facing real financial and strategic risks. Source: The Assembly; Chartr
$440 billion wiped from semiconductor stocks in a single day after 19 straight days of gains.
The $SOX Semiconductor Index crashed 5% on Tuesday, its worst session in months and the first red day after the longest winning streak in the index's history. - $NVDA down 3.2% wiping out $200 billion. - $AVGO down 4.3% wiping out $95 billion. - $MU down 5.8% wiping out $40 billion. - $AMD down 4.8% wiping out $29 billion. - $INTC down 4.2% wiping out $7 billion. Source: Bull Theory
Tesla $TSLA is positioning itself to be the largest physical AI deployment platform by the end of this decade.
By 2031, Tesla could become a $375B revenue story where AI, robots, services, energy & Cybercab together become larger than automotive: • Automotive 40% • Cybercab 24% • Robots 16% • Energy 11% • Services 9% Source: Shay Boloor
