Chips, Cuts, and Analyst Calls Define Tuesday

Micron in Focus as Chips Dominate

Today's session revolves around semiconductors. MU reports Q3 2026 earnings after the bell. Options traders have stacked near-dated expiries on the stock. Bearish puts are heavy across the chip sector as rate fears weigh on Nasdaq. NVDA's ORTEX momentum score slid from 62.8 to 55.0 in under two weeks. That is the steepest one-month drop for the AI chip giant. Bears are also doubling down on Wolfspeed, where short interest has hit 104.7% of free float. Availability of shares to borrow has collapsed to zero.

Analyst Moves Shake Retail and Industrials

Wolfe Research flipped its retail calls today. TGT was upgraded to Buy. HD was cut to Hold in the same move. The biggest price target revision of the day belongs to DD. Morgan Stanley lifted DuPont's target to $156 from $52 — a three-fold jump — following the company's structural reorganisation. NKE drew a new Sell from BNP Paribas with a $23 target. Nike also reports quarterly results on June 30.

Oracle Cuts, Tesla Claims Content Lead

ORCL announced 21,000 job cuts. Bearish options positioning has built on the stock. Elon Musk claimed this morning that TSLA's Model Y and Model 3 carry the highest US-made content of any vehicle sold in America. The statement lands as tariff pressures continue to favour domestically built cars.

Europe: STMicro Launches Quantum-Safe Chip

STMicroelectronics unveiled its ST54M single-die chip today. It brings post-quantum cryptography to mobile payments and digital identity services. The launch positions the Franco-Italian chipmaker at the frontier of next-generation security hardware.