The world's most valuable technology companies with the exception of Alphabet added billions of dollars in market value in May, as upbeat earnings outlooks and strong demand for AI chips fuelled a rally in their shares. Apple, memory chipmakers Micron Technology, Samsung Electronics and SK Hynix led the gains, adding $598 billion, $512 billion, $481 billion and $377 billion, respectively, in ma...
The world's most valuable technology companies with the exception of Alphabet added billions of dollars in market value in May, as upbeat earnings outlooks and strong demand for AI chips fuelled a rally in their shares. Apple, memory chipmakers Micron Technology, Samsung Electronics and SK Hynix led the gains, adding $598 billion, $512 billion, $481 billion and $377 billion, respectively, in market value. Their valuations rose to $4.58 trillion, $1.09 trillion, $1.10 trillion and $1.34 trillion, respectively.
Bitcoin ( BTC-USD ) fell ~12.21% over the past month and was trading near ~$68.7K on Tuesday, while Ethereum ( ETH-USD ) dropped ~15% to around ~$1,970. But while cryptocurrencies moved lower, crypto-linked stocks split into two very different camps: Bitcoin mining companies surged, while most Bitcoin proxy and crypto-financial stocks lagged. Among Bitcoin treasury and crypto-financial stocks, 5 o...
Bitcoin ( BTC-USD ) fell ~12.21% over the past month and was trading near ~$68.7K on Tuesday, while Ethereum ( ETH-USD ) dropped ~15% to around ~$1,970. But while cryptocurrencies moved lower, crypto-linked stocks split into two very different camps: Bitcoin mining companies surged, while most Bitcoin proxy and crypto-financial stocks lagged. Among Bitcoin treasury and crypto-financial stocks, 5 out of 7 companies underperformed Bitcoin on a monthly basis: Twenty One Capital ( XXI ) was the biggest laggard, falling 24.89%, followed by Bullish ( BLSH ) at -22.25% and Strategy ( MSTR ) at -21.32%. SharpLink ( SBET ) declined 18.72%, while Bitmine Immersion Technologies ( BMNR ) lost 17.69%. Only 2 out of 7 stocks outperformed Bitcoin. Circle Internet Group ( CRCL ) fell 9.91%, outperforming BTC by 2.30%, while Coinbase Global ( COIN ) dropped 11.02%, outperforming BTC by 1.19%. "So where did investors put their money?" The answer appears to be Bitcoin miners and digital infrastructure companies. All 6 major Bitcoin mining stocks outperformed the asset , even as price declined: Riot Platforms ( RIOT ) led the group with a 55.86% gain, followed by Bitdeer Technologies ( BTDR ) at 51.54% and CleanSpark ( CLSK ) at 49.88%. Cipher Mining ( CIFR ) advanced 44.90%, Applied Digital ( APLD ) rose 41.95%, and MARA Holdings ( MARA ) gained 28.87%. Every major mining stock outperformed Bitcoin by a wide margin. RIOT led the group, beating BTC by more than 68%, followed by BTDR and CLSK. The contrast is difficult to ignore. While Bitcoin fell 12%, miners gained roughly 29% to 56%, suggesting investors may be rotating away from treasury stocks toward companies tied to mining, power, and digital infrastructure. The next question is whether this trend continues if Bitcoin's weakness persists—or reverses if the cryptocurrency regains momentum More on Strategy, Twenty One Capital, Inc., etc. Bitcoin Breaks Below $70,000 As Sell-Off Continues Strategy: Why Buying Bonds Instead Of Bitcoi...
janiecbros/E+ via Getty Images I'm initiating C4 Therapeutics ( CCCC ) with a "Buy" rating. The reason why I'm doing so is because the company has made significant progress expanding its lead next-generation cereblon E3 ligase modulator [CELMoD] or molecular glue degrader cemsidomide for the treatment of patients with relapsed/refractory multiple myeloma [r/r MM]. Specifically, its lead program in...
janiecbros/E+ via Getty Images I'm initiating C4 Therapeutics ( CCCC ) with a "Buy" rating. The reason why I'm doing so is because the company has made significant progress expanding its lead next-generation cereblon E3 ligase modulator [CELMoD] or molecular glue degrader cemsidomide for the treatment of patients with relapsed/refractory multiple myeloma [r/r MM]. Specifically, its lead program involves the development of its oral IKZF1/3 degrader [CELMoD] cemsidomide in combination with dexamethasone to treat patients with 4th-line+ r/r MM in the ongoing phase 2 MOMENTUM single-arm, open-label study. The first patient was dosed for this mid-stage trial in February of 2026, and enrollment completion is expected by Q1 of 2027. From there, if trial recruitment goes well, then the company expects to release initial overall response rate [ORR] data from it in the 2nd half of 2027. This phase 2 MOMENTUM study program was built on foundational data from a phase 1 study using cemsidomide plus dexamethasone to treat r/r MM patients. Speaking of which, there is a catalyst opportunity to mention there that investors should keep an eye on. This involves updated poster data from this phase 1 study using this cemsidomide combination data to treat these specific MM patients at the EHA Congress on Friday, June 12, 2026, at 6:45 pm CEST / 12:45 pm ET. There is already an expansion underway to use this next-generation IZKF1/3 degrader across other lines of therapy for these MM patients. With that said, the company also already dosed patients in a phase 1b study to further expand the use of its lead drug with other approved therapies. This involves a phase 1b study of cemsidomide + dexamethasone + CD3-targeting bispecfiic antibody elranatamab [ELREXFIO] for the treatment of 2nd-line+ r/r MM patients. This program is ideal because C4 Therapeutics has made a clinical trial supply agreement with Pfizer ( PFE ) to supply ELREXFIO for the evaluation of this program combination. Why should...
sittithat tangwitthayaphum/iStock via Getty Images Abivax Overview Investors were caught by surprise yesterday when ABIVAX Société Anonyme ( ABVX ) revealed Phase 3 maintenance data for its novel drug, obefazimod, in ulcerative colitis. Despite both doses meeting primary and all key secondary endpoints, the stock plummeted over 30% in after-hours trading Monday. Some may have been concerned about ...
sittithat tangwitthayaphum/iStock via Getty Images Abivax Overview Investors were caught by surprise yesterday when ABIVAX Société Anonyme ( ABVX ) revealed Phase 3 maintenance data for its novel drug, obefazimod, in ulcerative colitis. Despite both doses meeting primary and all key secondary endpoints, the stock plummeted over 30% in after-hours trading Monday. Some may have been concerned about the apparent clustering of malignancy cases in high-dose (50 mg) obefazimod (more on this below). My last analysis on Abivax was in February. This came after it became apparent that management was keen on going it alone. Recall that it had been subject to a flurry of M&A rumors. My first analysis of Abivax was actually in July of 2025, when I was a Buy on the stock that was priced around $70 per share at that time. My March rating of Hold was a rating downgrade when Abivax was priced around $110 per share. My rating downgrade was based on fundamentals. I performed a DCF analysis and ascertained that with even optimistic assumptions, Abivax's fair value per share was $91.59, which at that time implied a downside of around 20%. I also modeled that a funding gap exists, which management has since expressed its intention to raise more money after Phase 3 maintenance data in ulcerative colitis. In the article that follows, I'm going to take a closer look at the maintenance data and determine if it changes anything at the fundamental level for Abivax. Recent Developments Back in March, I set the "goalposts" for ulcerative colitis efficacy data. The two big endpoints there are "clinical remission" and "endoscopic improvement." My bull case called for clinical remission rates over 50% and endoscopic improvement rates over 60%. Achieving these rates would clearly differentiate obefazimod from existing therapies. 50 mg obefazimod comfortably met both of my criteria at Week 44: Table 1: Phase 3 ABTECT Maintenance Trial Results, efficacy (Abivax) The problem was safety. To me, the bigg...
铀能源公司（Uranium Energy Corp，UEC）周二宣布，将于6月9日股市开盘前发布2026财年第三季度运营及财务业绩。公司管理层将于当天美国东部时间上午11时召开电话会议，对业绩进行解读。会议直播及会后回放可通过公司官网投资者关系页面获取。 本次财报发布正值公司多项战略布局加速落地的关键期。在第二季度，铀能源以每磅101美元的价格售出20万磅铀，较当季现货均价溢价超过25%，实现营收...
Robert Way As the 2026 edition of the Computex event continues, GF Securities said it heard several positive updates from some of the semiconductor industry's biggest players, including Nvidia ( NVDA ), Qualcomm ( QCOM ), Intel ( INTC ), and Marvell ( MRVL ). For Nvidia, the highlight was the RTX Spark superchip for PCs, but there were several other positives, GF analyst Jeff Pu said. “Nvidia high...
Robert Way As the 2026 edition of the Computex event continues, GF Securities said it heard several positive updates from some of the semiconductor industry's biggest players, including Nvidia ( NVDA ), Qualcomm ( QCOM ), Intel ( INTC ), and Marvell ( MRVL ). For Nvidia, the highlight was the RTX Spark superchip for PCs, but there were several other positives, GF analyst Jeff Pu said. “Nvidia highlighted that Vera GPUs are purpose-built for agentic AI, addressing CPU bottlenecks in the agentic AI era,” Pu wrote in a note to clients. “Featuring 88 Olympus cores, 1.5TB LPDDR5X Memory, 1.2TB/s memory bandwidth, and 3.4TB/s core-to-core bisection bandwidth, Vera delivers 3x higher per-core bandwidth and 1.8x higher agentic sandbox performance vs. x86, according to Nvidia.” In addition, Pu said he sees a standalone Vera CPU as generating $20B in revenue for Nvidia (the company is now in full production of its Vera Rubin line), and there should be higher GPU adoption from the hyperscalers when the Vera Rubin NVL72 begins to ramp up in October. Intel For Intel, the company has reinforced to partners, investors, and industry watchers that it is being led by engineers, with its 18A manufacturing process now in volume production, Pu said. “[Management] emphasized agentic AI is lifting CPU demand, restoring x86’s strategic role,” Pu explained. “It also introduced Rackscale Blueprints to support AI agents, showcased a more efficient disaggregated inference architecture with SambaNova and Nvidia, and expanded into custom silicon through partnerships with Foxconn, Google, and Ericsson.” During the event, Intel CEO Lip Bu-Tan reiterated that the company had spoken to several external partners about joining its foundry, but had no announcements yet. However, he did add that if Intel raises its capital spending forecast, it means they have won customers. The company made many announcements during the event, including a new chip-to-rack-scale AI solution. Reports also suggest that In...
Robert Way As the 2026 edition of the Computex event continues, GF Securities said it heard several positive updates from some of the semiconductor industry's biggest players, including Nvidia ( NVDA ), Qualcomm ( QCOM ), Intel ( INTC ), and Marvell ( MRVL ). For Nvidia, the highlight was the RTX Spark superchip for PCs, but there were several other positives, GF analyst Jeff Pu said. “Nvidia high...
Robert Way As the 2026 edition of the Computex event continues, GF Securities said it heard several positive updates from some of the semiconductor industry's biggest players, including Nvidia ( NVDA ), Qualcomm ( QCOM ), Intel ( INTC ), and Marvell ( MRVL ). For Nvidia, the highlight was the RTX Spark superchip for PCs, but there were several other positives, GF analyst Jeff Pu said. “Nvidia highlighted that Vera GPUs are purpose-built for agentic AI, addressing CPU bottlenecks in the agentic AI era,” Pu wrote in a note to clients. “Featuring 88 Olympus cores, 1.5TB LPDDR5X Memory, 1.2TB/s memory bandwidth, and 3.4TB/s core-to-core bisection bandwidth, Vera delivers 3x higher per-core bandwidth and 1.8x higher agentic sandbox performance vs. x86, according to Nvidia.” In addition, Pu said he sees a standalone Vera CPU as generating $20B in revenue for Nvidia (the company is now in full production of its Vera Rubin line), and there should be higher GPU adoption from the hyperscalers when the Vera Rubin NVL72 begins to ramp up in October. Intel For Intel, the company has reinforced to partners, investors, and industry watchers that it is being led by engineers, with its 18A manufacturing process now in volume production, Pu said. “[Management] emphasized agentic AI is lifting CPU demand, restoring x86’s strategic role,” Pu explained. “It also introduced Rackscale Blueprints to support AI agents, showcased a more efficient disaggregated inference architecture with SambaNova and Nvidia, and expanded into custom silicon through partnerships with Foxconn, Google, and Ericsson.” During the event, Intel CEO Lip Bu-Tan reiterated that the company had spoken to several external partners about joining its foundry, but had no announcements yet. However, he did add that if Intel raises its capital spending forecast, it means they have won customers. The company made many announcements during the event, including a new chip-to-rack-scale AI solution. Reports also suggest that In...
Mathew Lawrence and Mark McVitie, previously seen as favouring Burnham and Streeting respectively, say change of direction is needed UK politics live – latest updates Two of Labour’s leading policy figures, who put forward “manifestos” for Andy Burnham and a centrist grouping, are to join forces to help forge new ideas for a future government. The authors of the two essays – which have previously ...
Mathew Lawrence and Mark McVitie, previously seen as favouring Burnham and Streeting respectively, say change of direction is needed UK politics live – latest updates Two of Labour’s leading policy figures, who put forward “manifestos” for Andy Burnham and a centrist grouping, are to join forces to help forge new ideas for a future government. The authors of the two essays – which have previously been described as competing visions for a Burnham- or Wes Streeting-led government – said Labour urgently required a serious intellectual debate about its direction rather than simply a change of personality. Continue reading...
Berkshire Hathaway CEO Greg Abel is keeping plenty busy in his new job. Two days after Berkshire announced a $6.8 billion acquisition of the major homebuilder Taylor Morrison Homes , the company is now plowing an additional $10 billion into Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) . Berkshire had already significantly increased its position in Alphabet in the first quarter of 2026. Continue reading
Berkshire Hathaway CEO Greg Abel is keeping plenty busy in his new job. Two days after Berkshire announced a $6.8 billion acquisition of the major homebuilder Taylor Morrison Homes , the company is now plowing an additional $10 billion into Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) . Berkshire had already significantly increased its position in Alphabet in the first quarter of 2026. Continue reading
A Häagen-Dazs store in Hangzhou on June 2, 2026. Photo: VCG General Mills Inc. has agreed to sell its Häagen-Dazs storefront and gifting business in the Chinese mainland to an investor group that includes local beverage chain Ningji. The divestiture underscores the U.S. food giant’s ongoing portfolio overhaul to focus on higher-growth categories like pet care, while allowing local operators to rev...
A Häagen-Dazs store in Hangzhou on June 2, 2026. Photo: VCG General Mills Inc. has agreed to sell its Häagen-Dazs storefront and gifting business in the Chinese mainland to an investor group that includes local beverage chain Ningji. The divestiture underscores the U.S. food giant’s ongoing portfolio overhaul to focus on higher-growth categories like pet care, while allowing local operators to revitalize the struggling premium ice cream brand amid intensifying domestic competition.
Tesla stock fell more than 4.5% on Monday after OpenAI appeared to revive its robotics business. On Tuesday, the stock recovered slightly, in part due to promising deliveries from its factory in Shanghai.
Tesla stock fell more than 4.5% on Monday after OpenAI appeared to revive its robotics business. On Tuesday, the stock recovered slightly, in part due to promising deliveries from its factory in Shanghai.
JHVEPhoto/iStock Editorial via Getty Images Introduction In one of my toughest calls, I rated Micron ( MU ) a Sell in late March , and the stock sure did prove me wrong. It has gained over 220% in possibly one of my worst short-term stock picks. I was simply on the wrong end of one of the sharpest re-ratings in semiconductor history. I, therefore, want to go through again the new Micron and see if...
JHVEPhoto/iStock Editorial via Getty Images Introduction In one of my toughest calls, I rated Micron ( MU ) a Sell in late March , and the stock sure did prove me wrong. It has gained over 220% in possibly one of my worst short-term stock picks. I was simply on the wrong end of one of the sharpest re-ratings in semiconductor history. I, therefore, want to go through again the new Micron and see if my thesis still holds for the long term or not. Current Dynamics My anchor view has always been that the memory’s cyclicality would reassert itself and that Samsung ( SSNLF ) and SK Hynix would compete and push prices down as they clawed back high bandwidth memory, or HBM, share. The stock is now over $1,000 as the cycle ran hotter and longer than my framework allowed, and anyone who was short paid for it. I would rather state that plainly than quietly reissue the same rating with new numbers. That said, I won’t flip to the opposite extreme of my rating, as the honest question today is simply, at an all-time high, is there still a margin of safety? So, what does the bull case hinge on at the current moment? First, the demand is structural as HBM now consumes north of 20% of global DRAM wafer output, up from near zero before the AI build-out, because HBM burns roughly 3 wafers for every one that standard DRAM needs per gigabyte. Every Wafer redirecter to HMB tightens commodity DRAM and NAND, which is why contract prices have been so high across the board rather than just at the AI tip. This is a supply-mix story and the mix does not unwind in a quarter. Second, the current visibility is a first in the industry as Micron, Samsung ( SSNLF ), and SK Hynix have all stated that 2026 is sold out , and Micron has even shifted major customers onto multi-year, volume and price committed agreements, which is a structural shift from the traditional 1-year handshake deals that defined prior cycles. Management has stated that the continuous tightness is set to persist beyond calendar 20...
JHVEPhoto/iStock Editorial via Getty Images Introduction In one of my toughest calls, I rated Micron ( MU ) a Sell in late March , and the stock sure did prove me wrong. It has gained over 220% in possibly one of my worst short-term stock picks. I was simply on the wrong end of one of the sharpest re-ratings in semiconductor history. I, therefore, want to go through again the new Micron and see if...
JHVEPhoto/iStock Editorial via Getty Images Introduction In one of my toughest calls, I rated Micron ( MU ) a Sell in late March , and the stock sure did prove me wrong. It has gained over 220% in possibly one of my worst short-term stock picks. I was simply on the wrong end of one of the sharpest re-ratings in semiconductor history. I, therefore, want to go through again the new Micron and see if my thesis still holds for the long term or not. Current Dynamics My anchor view has always been that the memory’s cyclicality would reassert itself and that Samsung ( SSNLF ) and SK Hynix would compete and push prices down as they clawed back high bandwidth memory, or HBM, share. The stock is now over $1,000 as the cycle ran hotter and longer than my framework allowed, and anyone who was short paid for it. I would rather state that plainly than quietly reissue the same rating with new numbers. That said, I won’t flip to the opposite extreme of my rating, as the honest question today is simply, at an all-time high, is there still a margin of safety? So, what does the bull case hinge on at the current moment? First, the demand is structural as HBM now consumes north of 20% of global DRAM wafer output, up from near zero before the AI build-out, because HBM burns roughly 3 wafers for every one that standard DRAM needs per gigabyte. Every Wafer redirecter to HMB tightens commodity DRAM and NAND, which is why contract prices have been so high across the board rather than just at the AI tip. This is a supply-mix story and the mix does not unwind in a quarter. Second, the current visibility is a first in the industry as Micron, Samsung ( SSNLF ), and SK Hynix have all stated that 2026 is sold out , and Micron has even shifted major customers onto multi-year, volume and price committed agreements, which is a structural shift from the traditional 1-year handshake deals that defined prior cycles. Management has stated that the continuous tightness is set to persist beyond calendar 20...
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI All Country Asia ex Japan ETF (Symbol: AAXJ) where we have detected an approximate $171.2 million dollar outflow -- that's a 4.0% decre
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI All Country Asia ex Japan ETF (Symbol: AAXJ) where we have detected an approximate $171.2 million dollar outflow -- that's a 4.0% decre