TMTB EOD Wrap

Good afternoon. QQQs flat as - yup you guessed it - AI semis continued to lead …yields ticked lower, ARKK -1%; Oil +1.4%. Winners keep on winning continues to be the name of the game…

Semis

• ARM +9% to ATHs continues to squeeze higher as low float + one of better AI stories out there continues to get investors on board. Now +100% in 2 months.

• NVDA +3.5% keeps on grinding higher. TheInformation had a mini-profile of Huang today talking about trying to keep NVDA one step ahead (link).

• QCOM +2.5%: Kuo said QCOM will liekly be the sole SoC supplier to the Samsung Galaxy S25 (vs 40% for S24).

• MU +3.5% as BAML added to US1 list and DRAM checks out of Asia continue to be positive

• AMD -2.6% just can’t catch a break and continues to be a funding short for cleaner AI winners and concerns have grown around allegations of a data breach

• TSM +2% as Digitimes had a couple +ve articles and MS raised PT

• Other AI names also o/p: MRVL +1.7%; SMCI +3.7%; VRT +6.6%; CDNS +1.5%

• TER +4.5% as UBS named it a top pick…