- Dow Jones Futures: Techs Fall As South Korea Eyes Excess AI Profits; CPI Inflation Due
May 12, 2026
Techs fell as South Korea's Kospi index as a top official suggested excess AI profits could be given to citizens. The CPI inflation report is on tap.
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- Dow Jones Futures Fall, Techs Slide As South Korea Eyes Excess AI Profits; CPI Inflation Due
May 12, 2026
Techs fell as South Korea's Kospi index as a top official suggested excess AI profits could be given to citizens. The CPI inflation report is on tap.
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- Micron vs. Sandisk: Which Memory Stock Is the Better Buy Right Now?
May 12, 2026
Key Points
The rise of artificial intelligence (AI) data centers has driven a boom in memory chip demand, sending shares of Micron and Sandisk higher. Each represents a unique wager, with one serving as a less risky option with lower downside, and the other a more concentrated wager on the AI data center trend. Depending on your risk tolerance, there could be a place for both stocks in your portfolio.10 stocks we like better than Micron Technology ›
The artificial intelligence (AI) data center boom has driven strong demand for memory. As a result, memory chip stocks, most notably Micron Technology(NASDAQ: MU) and Sandisk(NASDAQ: SNDK), have both made major moves higher, rising 770% and 4,000%, respectively, over the past year.
Which of these two top-performing tech stocks is the better buy moving forward? Interestingly, there could be a case for owning both of them, due to their unique risk/reward dynamics.
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Image source: Getty Images.
Micron: The memory chip blue chip
Among these two high-performing memory chip stocks, Micron is arguably the name that more strongly qualifies as a blue chip tech stock.
Yes, Micron, like other memory stocks, is subject to the boom-and-bust dynamics of the industry. However, given its diversified product line of NAND, DRAM, and SSD chips, the company could experience a soft landing in the event the AI data center boom slows down sooner than expected. Better yet, Micron Technology stock already trades as if a slowdown is just around the corner, at only 13 times forward earnings.
Sandisk: A more concentrated wager on NAND chips
While Micron is the slow and steady blue chip among this duo, Sandisk has greater risk, but greater opportunity. As the aforementioned trend has had a greater impact on Sandisk's growth, it's no wonder that the stock has posted four-figure-percentage gains, versus the three-digit gains posted by Micron over the past six months.
That said, don't assume that the train has already left the station. Trading for 24 times forward earnings, Sandisk is not a cheap stock. Still, with sell-side analysts calling for sales to rise by triple digits yet again in 2027, and with forecast earnings growth of over 160%, even if it rallies in tandem with earnings growth, Sandisk stock has the potential to post another year of strong returns.
Should you buy stock in Micron Technology right now?
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Thomas Niel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Micron Technology. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
- Stocks Settle Higher on Strong Earnings
May 11, 2026
The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.19%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.29%. June E-mini S&P futures (ESM26) rose +0.18%, and June E-mini Nasdaq futures (NQM26) rose +0.28%.
Stock indexes settled higher on Monday, with the S&P 500 and Nasdaq 10 posting new all-time highs amid strong corporate earnings results and resurgent optimism around artificial intelligence. Strength in chipmakers and AI-infrastructure stocks led the broader market higher on Monday. Gains in stocks were limited on Monday amid rising oil prices and bond yields after the US and Iran failed to reach terms to end the war in the Middle East. Global bond yields rose on concern that the continued standoff will keep energy prices elevated and could force the world’s central banks to tighten monetary policy. The 10-year T-note yield rose +5 bp to 4.41%. Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
In the latest developments in the Middle East, President Trump and Iran rejected each other's latest peace proposals to end the 10-week conflict. Iran offered to transfer some of its stockpile of highly enriched uranium to a third country, but rejected the idea of dismantling its nuclear facilities. Iran also demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through the Strait of Hormuz. Despite the ceasefire in place since last month, a drone strike over the weekend set a cargo vessel ablaze off Qatar in the Persian Gulf. Also, the United Arab Emirates and Kuwait both said they intercepted hostile drones.
Monday’s US economic news was slightly weaker than expected after Apr existing home sales rose +0.2% m/m to 4.02 million, below expectations of 4.05 million.
Chinese trade news was better than expected, a positive factor for global growth. China Apr exports rose +14.1% y/y, stronger than expectations of +8.4% y/y. Apr imports rose +25.3% y/y, stronger than expectations of 20.0% y/y.
WTI crude oil prices (CLM26) rose more than 2% on Monday, as optimism that the US and Iran would reopen the Strait of Hormuz was dashed after President Trump on Sunday said that Iran's latest peace proposals were "totally unacceptable." The strait remains essentially closed, as about a fifth of the world’s oil and liquefied natural gas transits through the strait. Goldman Sachs estimates that the current disruption has drawn down nearly 500 million bbl from global crude stockpiles, with the drawdown potentially reaching 1 billion bbl by June.
The markets are discounting a 4% chance of a -25 bp FOMC rate cut at the next FOMC meeting on June 16-17.
Earnings reports thus far in this reporting season have been supportive of stocks. As of Monday, 83% of the 450 S&P 500 companies that reported Q1 earnings have beaten estimates. Q1 S&P 500 earnings are projected to climb +12% y/y, according to Bloomberg Intelligence. Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years.
Overseas stock markets settled mixed on Monday. The Euro Stoxx 50 closed down -0.27%. China's Shanghai Composite rallied to a 10-year high and closed up +1.08%. Japan's Nikkei Stock Average fell from a record high and closed down -0.47%.
Interest Rates
June 10-year T-notes (ZNM6) on Monday closed down -11 ticks. The 10-year T-note yield rose +5.4 bp to 4.408%. T-notes were under pressure on Monday from a +2% jump in WTI crude oil prices, which boosted inflation expectations. T-notes fell to their lows on Monday afternoon on weak demand for the Treasury’s $58 billion auction of 3-year T-notes that had a bid-to-cover ratio of 2.54, well below the 10-auction average of 2.64.
European government bond yields moved higher on Monday. The 10-year German Bund yield rose +3.5 bp to 3.040%. The 10-year UK gilt yield rose +8.6 bp to 4.998%.
ECB Governing Council member Martin Kocher said, "If the situation around energy prices does not improve significantly, an interest rate hike will be unavoidable in the near future."
Swaps are discounting an 84% chance of a +25 bp ECB rate hike at its next policy meeting on June 11.
US Stock Movers
Chipmakers and AI-infrastructure stocks rose on Monday amid continued optimism over AI infrastructure build-outs. Qualcomm (QCOM) closed up more than +8% to lead gainers in the Nasdaq 100, and Western Digital (WDC) closed up by more than +7%. Also, Micron Technology (MU) and Seagate Technology Holdings Plc (STX) closed up more than +6%, and NXP Semiconductors NV (NXPI), Intel (INTC), and Texas Instruments (TXN) closed up more than +3%. In addition, Nvidia (NVDA), Applied Materials (AMAT), and Analog Devices (ADI) closed up more than +1%.
Mining stocks moved higher on Monday amid rallies in silver and copper prices. Hecla Mining (HL) closed up more than +11%, and Barrick Mining (B) closed up +9%. Also, Coeur Mining (CDE) closed up more than +6%, and Freeport McMoRan (FCX) closed up more than +4%. In addition, Newmont Corp (NEM) closed up more than +3%, and Anglogold Ashanti (AU) closed up more than +1%.
Consumer-exposed stocks retreated on Monday after Wells Fargo warned about weakening consumer demand. Kohl’s (KSS) closed down more than -10% and Dollar General (GD) closed down more than -8% to lead losers in the S&P 500. Also, Ollie’s Bargain Outlet Holdings (OLLI) closed down more than -8% and Kontoor Brands (KTB) closed down more than -7%. In addition, Target (TGT) and Celsius Holdings (CELH) closed down more than -6%.
Airline stocks and cruise line operators were under pressure on Monday amid a +2% increase in WTI crude oil prices, which boosts fuel costs and undermines the companies' profitability prospects. American Airlines Group (AAL), Alaska Air Group (ALK), and Royal Caribbean Cruises Ltd (RCL) closed down more than -4%. Also, Carnival (CCL) closed down more than -3%, and Norwegian Cruise Line Holdings (NCLH), United Airlines Holdings (UAL), Southwest Airlines (LUV), and Delta Air Lines (DAL) closed down more than -2%.
Beazer Homes USA Inc (BZH) closed up more than +34% on a report that said Dream Finders Homes is close to announcing a $704 million offer to acquire the company.
Babcock & Wilcox (BW) closed up more than +30% after reporting Q1 revenue grew 44% year-over-year, and that Q1 Ebitda nearly quadrupled.
Lumentum Holdings (LITE) closed up more than +16% to lead gainers in the S&P 500 after Nasdaq announced that the stock will replace CoStar Group in the Nasdaq 100 before the market opens on Monday, May 18.
Coherent Corp (COHR) closed up more than +13% on news that CEO Anderson will travel with President Trump to China this week.
Monday.com (MNDY) closed up more than +5% after reporting Q1 adjusted EPS of $1.15, better than the consensus of 93 cents, and raising its full-year revenue forecast to $1.466 billion to $1.474 billion from a previous forecast of $1.45 billion to $1.46 billion, better than the consensus of $1.46 billion.
Iren Ltd (IREN) closed down more than -10% after announcing that it intends to offer $2 billion of convertible senior notes due 2033 in a private offering.
Trade Desk (TTD) closed down more than -7% after HSBC downgraded the stock to reduce from hold with a price target of $20.
Wendy’s (WEN) closed down more than -7% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $6.
Dell Technologies (DELL) closed down more than -5% after UBS downgraded the stock to neutral from buy.
Tyler Technologies (TYL) closed down more than -3% after announcing that it intends to offer $1 billion of convertible senior notes due 2031 in a private offering.
Mosaic (MOS) closed down nearly -2% after forecasting Q2 phosphate sales of 1.4 million to 1.7 million tons, weaker than the consensus of 1.78 million tons.
Earnings Reports(5/12/2026)
Aramark (ARMK), Karman Holdings Inc (KRMN), Millicom International Cellular SA (TIGO), On Holding AG (ONON), Qnity Electronics Inc (Q), Ralliant Corp (RAL), Under Armour Inc (UAA), Zebra Technologies Corp (ZBRA).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
- PRIMECAP Management's Strategic Moves: AstraZeneca PLC Exits with a -2.57% Impact
May 11, 2026
This article first appeared on GuruFocus.
Exploring PRIMECAP Management (Trades, Portfolio)'s Recent 13F Filing and Investment Strategies
Warning! GuruFocus has detected 3 Warning Sign with LLY. Is LLY fairly valued? Test your thesis with our free DCF calculator.
PRIMECAP Management (Trades, Portfolio) recently submitted its 13F filing for the first quarter of 2026, offering a glimpse into its strategic investment decisions during this period. Founded in 1983 in Pasadena, CA, PRIMECAP Management (Trades, Portfolio) Company operates as an independent investment management firm. The company manages U.S.-focused equity portfolios for a select group of institutions and mutual funds. PRIMECAP's investment philosophy is rooted in four key principles: individual decision-making, commitment to fundamental research, a long-term investment horizon, and a focus on value. The firm employs a multi-counselor investment model, granting each portfolio manager autonomy over a distinct segment of each fund. PRIMECAP seeks stocks poised to outperform the market over a three to five-year horizon, often targeting undervalued companies and industries. This approach allows the firm to maintain its course even when short-term fundamentals appear challenging, driven by conviction from thorough research.
Key Position Increases
PRIMECAP Management (Trades, Portfolio) also increased stakes in a total of 75 stocks, among them:
The most notable increase was Adobe Inc (NASDAQ:ADBE), with an additional 1,054,640 shares, bringing the total to 4,730,846 shares. This adjustment represents a significant 28.69% increase in share count, a 0.2% impact on the current portfolio, with a total value of $1,149,974,050. The second largest increase was Boeing Co (NYSE:BA), with an additional 786,810 shares, bringing the total to 795,910. This adjustment represents a significant 8,646.26% increase in share count, with a total value of $158,409,970.
Summary of Sold Out
PRIMECAP Management (Trades, Portfolio) completely exited 8 holdings in the first quarter of 2026, as detailed below:
AstraZeneca PLC (NYSE:AZN): PRIMECAP Management (Trades, Portfolio) sold all 36,915,261 shares, resulting in a -2.57% impact on the portfolio. CyberArk Software Ltd (CYBR): PRIMECAP Management (Trades, Portfolio) liquidated all 30,500 shares, causing a -0.01% impact on the portfolio.
Key Position Reduces
PRIMECAP Management (Trades, Portfolio) also reduced positions in 177 stocks. The most significant changes include:
Reduced Micron Technology Inc (NASDAQ:MU) by 2,920,732 shares, resulting in an -11.78% decrease in shares and a -0.63% impact on the portfolio. The stock traded at an average price of $391.72 during the quarter and has returned 93.90% over the past 3 months and 178.78% year-to-date. Reduced KLA Corp (NASDAQ:KLAC) by 438,315 shares, resulting in a -15.24% reduction in shares and a -0.4% impact on the portfolio. The stock traded at an average price of $1,463.03 during the quarter and has returned 24.88% over the past 3 months and 52.05% year-to-date.
Story Continues
Portfolio Overview
At the first quarter of 2026, PRIMECAP Management (Trades, Portfolio)'s portfolio included 320 stocks. The top holdings included 6.68% in Eli Lilly and Co (NYSE:LLY), 5.82% in Micron Technology Inc (NASDAQ:MU), 3.39% in Alphabet Inc (NASDAQ:GOOGL), 2.83% in AstraZeneca PLC (NYSE:AZN), and 2.83% in KLA Corp (NASDAQ:KLAC).
The holdings are mainly concentrated in all 11 industries: Technology, Healthcare, Industrials, Consumer Cyclical, Financial Services, Communication Services, Energy, Consumer Defensive, Basic Materials, Real Estate, and Utilities.
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- Chip Rally Surges 60% As Retail Traders Rush Back In
May 11, 2026
This article first appeared on GuruFocus.
Retail traders are moving back into chip stocks just as the rally is beginning to look increasingly stretched. According to positioning data from JPMorgan Chase & Co. (NYSE:JPM), individual investors raised purchases of technology shares to the highest level in a year last week, with AI-linked memory chipmakers and hardware companies attracting some of the strongest inflows. Hardware companies recorded their second-largest inflow on record. The timing could matter for investors because the Philadelphia Stock Exchange Semiconductor Index, or SOX, has climbed about 60% over the past six weeks, making valuation measures look increasingly extended and possibly leaving late buyers exposed if momentum turns.
Warning! GuruFocus has detected 6 Warning Signs with SNDK. Is SNDK fairly valued? Test your thesis with our free DCF calculator.
The rally has been driven by renewed confidence in the AI infrastructure trade, especially after semiconductor and memory chip earnings supported the view that demand remains strong. Dave Mazza, chief executive officer at Roundhill Financial Inc., said the earnings season validated the AI infrastructure trade, but also warned that the market is becoming increasingly priced for perfection. The momentum has helped lift the Nasdaq 100 Index 25% in six weeks, while retail traders have been crowding into semiconductor and hardware names including Sandisk Corp. (NASDAQ:SNDK), Micron Technology Inc. (NASDAQ:MU), and Intel Corp. (NASDAQ:INTC). Chris Verrone, head of technical and macro strategy at Strategas Securities LLC, said semiconductors are becoming unusually stretched, with some cases looking as extreme as 1999, and noted that positions should be protected and monitored carefully.
The concern is not that chip stocks cannot rise further, but that the advance has become narrow and increasingly dependent on momentum. In the broader S&P 500 Index, the share of stocks trading above their 200-day moving average has fallen to 53% from 58% the prior week, while 97% of stocks in the SOX Index are above that long-term trend measure. Cameron Dawson, chief investment officer at Newedge Wealth, said semiconductors are the most extended versus their long-term trend since early 2000, while Macro Risk Advisors' John Kolovos noted that the SOX Index is sitting 57% above its 200-day moving average, a level reached only two other times since 1990, in 1995 and 2000. Both prior periods came before stock-market declines, with the 2000 episode preceding the dot-com crash. Still, Barclays Plc strategist Alexander Altmann said shorting the VanEck Semiconductor ETF at this stage could be premature, suggesting the trade may not yet show enough broad euphoria to say it has fully run its course.
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- US Equity Indexes Advance, Treasury Yields Rise With Crude Oil as Trump Explores Options to Tame Iran
May 11, 2026
US equity indexes rose on Monday, alongside crude oil futures and Treasury yields, as President Dona
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- Dow Jones Futures: AI, Chip Stocks Thrive Despite Oil Prices, Trump Comments; CPI Inflation Due
May 11, 2026
The major indexes rose slightly Monday as AI and chips shrugged off higher oil prices as Trump said Iran ceasefire "on life support."
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- Stock Market Today: Dow Up As Trump Gives Iran Warning; Michael Burry Says This As Micron Soars (Live Coverage)
May 11, 2026
The Dow Jones index rose on the stock market today after President Trump delivered an Iran warning. Intel and Micron were winners. Michael Burry spoke out.
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- Micron Stock Has Been Soaring—Traders Are Pricing In More Big Moves This Week
May 11, 2026 · investopedia.com
Shares of memory chip maker Micron have been on a tear this year, and some investors are betting this week will be more of the same.
