GoAI Market Wrap - 26th June
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2026年6月26日
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U.S. equities were mixed Thursday as Micron surged nearly 16% on blowout AI memory earnings, lifting semis broadly, while Apple and Microsoft price hikes dragged on the Nasdaq. May PCE came in at 2.6% — in-line, removing a near-term hawkish shock. Q1 GDP was revised up to 2.1% and jobless claims fell more than expected.
Daily Market Brief · Friday, June 26, 2026
U.S. Market Close
DJIA51,920.62▲ 0.14%
S&P 5007,357.49▼ 0.01%
NASDAQ25,358.60▼ 0.11%
As of June 25 Close
GoAI Sentiment Index
Score: 51 — Neutral
Sentiment stabilises at 51 (Neutral) as Micron’s blowout earnings confirm the AI memory upcycle, lifting semis broadly. May PCE came in at 2.6% — in-line, removing a near-term hawkish shock. Markets remain cautious: Apple and Microsoft price hikes signal cost pass-through risks, and the Fed is unlikely to cut before Q4. Selective positioning in AI semis and quality growth is favoured over broad exposure.
Key Headlines
SEMIS
Micron Surges 10%+ After-Hours on Blowout Q4 Sales Outlook
TECH
Microsoft and Apple Both Raise Prices on Key Products
MACRO
Strait of Hormuz Traffic Recovers to 57% of Pre-Conflict Levels
Market Analysis
On Thursday ET, despite Micron Technology reporting blowout earnings, investors continued to rotate out of mega-cap tech, sending the Nasdaq and S&P 500 lower while the Dow edged higher after a fresh batch of economic data.
The tech sector rallied early in the session before reversing lower, dragging the Nasdaq down. Micron surged nearly 16% after its earnings and guidance both topped Wall Street expectations. However, lingering concerns over debt-funded hyperscaler capex and fears of a more hawkish Fed continued to weigh on market sentiment throughout the week.
Chip-related names were the standout winners, with SanDisk (+22%), Western Digital, and Applied Materials (+13.4%) all rallying in Micron’s wake. Qualcomm rose 3.8% after raising its fiscal 2029 non-mobile revenue guidance from $22 billion to $40 billion — a near-91% increase.
Apple and Microsoft were among the biggest drags on the Nasdaq. Both companies announced price increases on key products, citing surging costs for chips and other critical components.
Carol Schleif, Chief Investment Officer at BMO Family Office, said: “The market is starting to realize that a company posting strong revenues and profits means someone else in the supply chain is absorbing those costs.” Jed Ellerbroek, Portfolio Manager at Argent Capital Management, noted: “As memory chip prices rise, virtually every electronic product with a semiconductor component will face upward pricing pressure.”
U.S. Commerce Department data released Thursday showed May PCE inflation came in at 2.6% — in-line with expectations. Q1 GDP was revised up to 2.1% from 1.6%, and weekly jobless claims fell more than expected, signaling a resilient labor market.
Key Takeaway: Micron’s blowout results validate the AI memory supercycle, but cost pass-through from semis is rippling through consumer tech. May PCE in-line removes a near-term hawkish shock — watch for a relief rally next week.
The tech sector rallied early in the session before reversing lower, dragging the Nasdaq down. Micron surged nearly 16% after its earnings and guidance both topped Wall Street expectations. However, lingering concerns over debt-funded hyperscaler capex and fears of a more hawkish Fed continued to weigh on market sentiment throughout the week.
Chip-related names were the standout winners, with SanDisk (+22%), Western Digital, and Applied Materials (+13.4%) all rallying in Micron’s wake. Qualcomm rose 3.8% after raising its fiscal 2029 non-mobile revenue guidance from $22 billion to $40 billion — a near-91% increase.
Apple and Microsoft were among the biggest drags on the Nasdaq. Both companies announced price increases on key products, citing surging costs for chips and other critical components.
Carol Schleif, Chief Investment Officer at BMO Family Office, said: “The market is starting to realize that a company posting strong revenues and profits means someone else in the supply chain is absorbing those costs.” Jed Ellerbroek, Portfolio Manager at Argent Capital Management, noted: “As memory chip prices rise, virtually every electronic product with a semiconductor component will face upward pricing pressure.”
U.S. Commerce Department data released Thursday showed May PCE inflation came in at 2.6% — in-line with expectations. Q1 GDP was revised up to 2.1% from 1.6%, and weekly jobless claims fell more than expected, signaling a resilient labor market.
Key Takeaway: Micron’s blowout results validate the AI memory supercycle, but cost pass-through from semis is rippling through consumer tech. May PCE in-line removes a near-term hawkish shock — watch for a relief rally next week.
Key Events
Strait of Hormuz Traffic Recovers to 57% of Pre-Conflict Levels
S&P Global reported that 78 vessels transited the Strait of Hormuz on June 24 — the highest single-day count since the Iran conflict began. Daily average transits this month have recovered to roughly 57% of pre-conflict levels, with 551 vessels passing through so far in June, on pace to be the busiest month since hostilities began.
Microsoft Raises Xbox Prices as Storage and Memory Costs Surge 2.5x
Effective August 1, the 512GB Xbox Series S will increase by $100 to ~$500; the 1TB version rises $150; and the entry-level Xbox Series X starts at ~$750. Microsoft cited storage and memory costs that have surged more than 2.5x, with further doubling expected by fall 2027.
Apple Raises MacBook and iPad Prices by Up to $300
Apple briefly took its online store offline Thursday before relaunching with updated pricing. Mac prices rose roughly 15–20% and iPad prices climbed 15–25%; iPhone pricing was unchanged. The MacBook Air base model rises $200 to $1,299; MacBook Pro base rises $300 to $1,999; iPad Air rises $150 to $749; iPad Pro rises $200 to $1,199.
Commodities
NYMEX WTI Crude▲ 2.25%
ICE Brent Crude▲ 2.06%
COMEX Gold▲ 0.78%
COMEX Silver▼ 0.38%
LME Copper▲ 2.22%
LME Aluminum▲ 2.26%
LME Nickel▲ 0.42%
LME Zinc▲ 0.88%
Forex
EUR/USD1.1373▲ 0.16%
GBP/USD1.3198▼ 0.26%
USD/JPY161.80▲ 0.02%
USD/CNY6.8029▲ 0.23%
Key Event: The dollar weakened modestly as May PCE came in at 2.6% — in-line, removing a near-term hawkish shock. EUR/USD edged up to 1.1373 (+0.16%) and GBP/USD rose to 1.3198 (+0.27%). USD/JPY held near 161.80 (+0.02%). USD/CNY rose to 6.8029 (+0.27%) as China demand signals remain mixed.
Sector Intelligence
TECHNOLOGY & FINANCIALS
XLK (1D)$184.57▲ 0.83%
XLF (1D)$53.45▼ 0.50%
Key Drivers: Tech (XLK +0.83%) rebounded as Micron surged ~16% on blowout AI memory earnings, lifting semis broadly. Financials (XLF −0.50%) dipped as hawkish Fed concerns weighed on bank valuations despite solid earnings.
Outlook: Tech momentum hinges on PCE data; a soft print could extend the AI-driven rally. Financials remain range-bound as markets price two 2026 rate hikes.
Outlook: Tech momentum hinges on PCE data; a soft print could extend the AI-driven rally. Financials remain range-bound as markets price two 2026 rate hikes.
SHIPPING & LOGISTICS
Drewry World Container Index (WCI)$3,969 ▲ 12%
Baltic Dry Index2,684 ▼ 1.40%
Market Dynamics: Drewry’s WCI surged 12% to $3,969/40ft (week of Jun 18), driven by sharp rate increases on transpacific and Asia–Europe routes as carriers push pre-summer peak season surcharges. The BDI fell 1.40% to 2,684 on June 22, extending a pullback from recent highs as Capesize demand softened.
Outlook: Container rates are approaching pre-conflict highs; watch for further carrier GRI announcements in late June. BDI near-term direction hinges on iron ore restocking demand from China and any Hormuz reopening progress.
Outlook: Container rates are approaching pre-conflict highs; watch for further carrier GRI announcements in late June. BDI near-term direction hinges on iron ore restocking demand from China and any Hormuz reopening progress.
Institutional Views
Morgan StanleyBULLISH
S&P 500 one-year target raised to 8,500. Micron’s blowout quarter confirms the AI memory upcycle is accelerating. Semis remain top overweight; AMAT and Qualcomm guidance upgrades reinforce the thesis. (Morgan Stanley, June 26, 2026)
Goldman SachsBULLISH
Year-end S&P 500 target 8,000; EPS $340 (+24% YoY). May PCE in-line at 2.6% removes a near-term hawkish tail risk. Oil rebound (+2%) is a modest margin headwind, but AI-driven earnings momentum offsets macro drag. (Goldman Sachs Research, June 26, 2026)
BlackRockCAUTIOUS
Maintains CAUTIOUS stance on duration. PCE in-line but still above target; Fed unlikely to cut before Q4. Qualcomm’s 91% non-mobile revenue guidance upgrade signals AI diversification, but valuation stretch in mega-cap tech warrants selective exposure. (BlackRock Investment Institute, June 26, 2026)
Digital Assets (24h)
Bitcoin (BTC)$59,690.32▼ 3.36%
Ethereum (ETH)$1,566.56▼ 0.09%
XRP$1.04▼ 0.36%
Solana (SOL)$67.75▼ 1.83%
GoAI Performance
Today’s Live P&L
SPY (Benchmark)▼ 0.46%
GoAI Portfolio▲ 0.52%
Alpha vs SPY▲ 0.63%
Positions69 / 69
Performance Metrics
Total Return (TWR, YTD)▲ 38.47%
Win Rate (44/69)63.8%
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