Micron Technology crossed the $1 trillion market cap mark, a staggering rise from under $70 billion just a year ago. The AI-driven memory boom has catapulted the chipmaker past JPMorgan, Walmart, and Eli Lilly in market value. A separate story adds more chip intrigue: Abu Dhabi's Mubadala is reportedly offering a $1.91 billion block of GlobalFoundries shares, a significant potential shake-up in foundry ownership.
Earnings season rolls on. Marvell Technology, Costco, and all report this week. Analysts have been reshaping expectations for ahead of its Q1 print. The software giant faces scrutiny over AI monetisation. Short sellers have not built large positions, keeping squeeze risk modest.
Meta Platforms faces a fresh legal threat. The Supreme Court rejected its appeal today, allowing Vermont's Instagram addiction lawsuit to move forward. The ruling opens the door to more state-level litigation against social media companies.
Tesla posted strong European numbers. EU battery-electric vehicles hit 19.7% market share year-to-date in April. Tesla's own April EU sales rose 67.2%. Yet BYD is growing faster, keeping the competitive pressure intense.
BP is back in the headlines for the wrong reasons. The company's ousted chair told Bloomberg he was fired without explanation. Governance uncertainty at Europe's second-largest oil major adds pressure to an already complex restructuring story.
The ECB warned today that private-credit-fuelled AI investment poses risks to financial stability. The central bank cautioned that investors face losses if AI fails to deliver on its potential.
Bears remain heavily committed to Wolfspeed, where short interest sits at 117.5% of free float with zero shares left to borrow. On the insider front, a CVS board member filed a $261 million sale — one of the week's biggest individual transactions across all sectors.
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.
