The Club's top 10 things to watch in the stock market Thursday
The Club's 10 things to watch Thursday, June 25 1. The tech-heavy Nasdaq is set to rally today , led by semiconductor stocks after memory chipmaker Micron signaled supply still can't keep up with growing AI-fueled...
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Breaking news from the markets: The Club's 10 things to watch Thursday, June 25 1. The tech-heavy Nasdaq is set to rally today , led by semiconductor stocks after memory chipmaker Micron signaled supply still can't keep up with growing AI-fueled demand. S & P and Dow futures are also positive, but to a much smaller degree.
benchmark WTI crude is hovering below $70 a barrel. Micron is up over 16% this morning after another monster quarter. Earnings per share (EPS) of $25.
Economic Details
11 trounced analyst estimates of $20. Guide for the August quarter: EPS of $30 to $32 versus $25. The company expects tight conditions to persist beyond calendar year 2027, and said it doesn't have a line of sight into when supply catches up with relentless demand.
It's also signed 16 strategic supply agreements with defined price (fixed or subject to floor and ceiling) to provide visibility. Qualcomm is up almost 10% after unveiling ambitious revenue targets at its investor day. The chipmaker raised its fiscal 2029 non-handset revenue target to $40 billion, which is roughly double its prior target from its 2024 investor day.
The big lift is coming from its new data center AI infrastructure strategy, which is targeting more than $15 billion of revenue by fiscal 2029. It announced a multiyear deal with Meta to supply data center CPUs. Club name Intel was initiated with a hold rating at Goldman Sachs and a $150 price target.
Analyst Views
Analysts believe in the agentic AI story and see upside from the company's role as a "U. champion" with its foundry (manufacturing) business. However, they think the stock, which has more than tripled this year, reflects these tailwinds and prefer Nvidia , Broadcom , and AMD for their better revenue viability.
We own Nvidia and Broadcom. All the major banks pass the Federal Reserve's annual stress tests. It's not the same catalyst that it used to be, but it allows the big banks to return more excess capital to shareholders.
JPMorgan increased its quarterly dividend to $1. 50 and approved a new $50 billion buyback program . Club name Goldman Sachs increased its quarterly dividend to $5 from $4.
Economists are analysing what the news means for the markets.
