Quick Read – Micron (MU) surged 20% as AI-driven memory demand outpaces supply, pushing the company past $1 trillion valuation and into the S&P 500’s top 11 by market cap.
Nvidia (NVDA) reached $5.2 trillion with data-center revenue up 92% year over year, while Broadcom (AVGO) hit $2 trillion with AI revenue doubling annually. – AI semiconductor companies are generating earnings growth faster than the broader market despite elevated valuations, allowing JPMorgan to project the S&P 500 could climb another 22% to 9,000 by mid-2027 as supply constraints enable stronger pricing power in memory chips. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Micron Technology wasn’t one of them
Get them here FREE. Everywhere investors look, the warning signs seem to be multiplying. Inflation ticked higher again in the latest Consumer Price Index report from the Bureau of Labor Statistics.
Producer prices are climbing, too, raising concerns companies may eventually pass those costs onto consumers. The University of Michigan’s consumer confidence index recently hit its lowest reading in 75 years. Meanwhile, the S&P 500 trades near historically elevated valuations after a massive run higher after last year’s April’s crash.