Overview
- Nvidia posted an exceptional quarter with roughly $81.6 billion in revenue and about $75 billion from its data‑center business, reinforcing its leadership in AI infrastructure and driving large analyst price targets.
- Memory suppliers have re‑rated sharply because high‑bandwidth memory and DRAM are tight, and firms with HBM capacity like Micron have seen large target increases and big revenue gains.
- A cautious fiscal guide from Broadcom on June 4 triggered a rapid sector selloff that sent major semiconductor ETFs sharply lower and created extreme short‑term volatility across chip stocks.
- Bank of America, Goldman, Wells Fargo and other brokers have issued bullish upgrades that boost valuations for Micron, Intel, AMD and Nvidia, while unconfirmed reports that Google may use Intel for TPU manufacturing are adding to foundry speculation.
- Markets now hinge on concrete supply evidence and near‑term catalysts—confirmation of HBM availability, any formal foundry orders, the May CPI print, and Micron’s June 24 earnings—which will determine whether strong fundamentals hold through the current re‑rating.