Chip stocks are on a tear. The Philadelphia Semiconductor Index has now gained 75% in 2026. AI-driven data centre spending from Big Tech is the engine. The FT flags the rally as the biggest since the dotcom era — raising a familiar question: supercycle or superbubble? NVDA and peers remain in focus as capital expenditure guidance from hyperscalers shows no sign of slowing.
Late-week earnings delivered mixed signals. MDB beat Q1 estimates and raised its FY27 outlook. Shares jumped, and options traders piled into short-dated expiries. SNOW caught a boost too, with UBS lifting its price target to $325. ADSK also reported, with its full earnings call transcript drawing analyst attention. GAP rounded out the tape after the close. This week ahead brings , , and .
Chevron's CEO warned that oil prices could spike over summer as Strait of Hormuz disruptions remove up to 13 million barrels per day from global supply. That is a sharp supply shock. Energy costs feeding into inflation would complicate Federal Reserve rate thinking.
European stocks slid broadly, but defense names rallied after Ukraine ratified a $105 billion EU loan deal. In corporate news, Dulux maker AKZ soared after rejecting a $14.5 billion takeover bid. The rejection sent shares higher — a sign investors see more value in independence. Separately, short sellers continued piling into WOLF stateside, where SI % FF hit 134% with zero shares left to borrow.
CRM announced a quarterly dividend and remains divided among analysts. 32 of 44 covering analysts sit at Hold. HPQ got a 30% target boost from UBS. DLTR consensus targets ticked higher as discount retail attracts cautious optimism.
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