Citi analyst Atif Malik fired a broadside across the chip sector today. Micron Technology received the most aggressive call — a target hike to $1,200 from $840, a 43% jump. Applied Materials and Lam Research also got sharp target lifts, to $710 and $450 respectively. All three carry Buy ratings at Citi. Micron's Q3 earnings report lands June 24. HBM memory demand guidance will be the key number to watch.
Rumble is at maximum short stress. Utilisation hit 100% today. Borrow availability crashed to just 0.43% of short interest — the sharpest tightening in a week. Short sellers are running out of room. A squeeze could accelerate sharply heading into the next earnings. In the wider short market, SharonAI Holdings saw the biggest weekly spike, with SI % of Free Float jumping 21 points to 33.2%.
Nucor and Steel Dynamics both issued Q2 guidance that beat market expectations today. Nucor guided EPS to $4.70–$4.80. Options traders rushed into calls on both names. Short interest in both stocks remains thin, giving bulls little friction.
Paramount Skydance secured Chinese regulatory approval for its merger with Warner Bros. Discovery. The news broke on X via a Semafor reporter late in the session. The clearance removes a key hurdle for one of the biggest media deals of the year.
Kroger holds its earnings call today. FedEx and Carnival Corporation report June 23. Micron follows June 24 — the week's most watched event for AI infrastructure investors.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
