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Daily US Equity Report 2026-06-19 (Fri)

Semis stage a revenge rally; all three indices close green (Nasdaq +1.91% / S&P +1.08% / Dow +0.14%), SMH +5.76% leading; chips explode (INTC +10.64% / SNDK +11.54% / KLAC +8.73% / MU +8.70%); U.S.–Iran peace lifts sentiment, Russell +2.12%, VIX -11% to 16.40, breadth back positive 117:83.

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US Stocks 06/19　［Semis stage a revenge rally; all three indices close green (Nasdaq +1.91% / S&P +1.08% / Dow +0.14%), SMH +5.76% leading; chips broadly explode INTC +10.64% / SNDK +11.54% / GLW +11.17% / KLAC +8.73% / MU +8.70%, BE +15.41% top fuel-cell gainer; U.S.–Iran peace deal lifts sentiment + Fed hawkishness digested, Russell +2.12%, VIX slumps -11% to 16.40, breadth back positive 117:83; tonight 6/19 Juneteenth market closed］

Data as of：2026-06-18 (Thu) U.S. close actuals　·　Generated：Taipei 6/19 07:00

🎯 Today's (6/19) Key Watchpoints

One-line summary

6/18 (Thu) semis staged a revenge rally and the U.S.–Iran peace deal lifted sentiment; all three indices closed green:Dow +0.14% to 51,564.70, S&P +1.08% to 7,500.58, Nasdaq +1.91% to 26,517.93; capital rotated back into chips, memory and equipment — already strong against the trend a day earlier — for a broad surge, with VIX back down to 16.40.

Main themes

▲ Semiconductors / Memory broadly explode　SMH +5.76%, INTC +10.64%, SNDK +11.54%, GLW +11.17%, KLAC +8.73%, MU +8.70%, TXN +6.95%, TSM +6.94%, QCOM +6.17%

▼ Defense / Pharma / Financials weak　IBM -5.05%, LMT -4.01%, RTX -3.62%, SCHW -2.97%, PFE -2.74%, JPM -2.47%, DELL -2.34%

↳ The U.S.–Iran peace deal boosted risk appetite, butdefense stocks saw profit-taking.

Policy & Liquidity

Geopolitics　The U.S. and Iran reached a peace deal and ended the blockade; the geopolitical premium unwound and risk appetite recovered, though oil prices lingered at low levels

Rates & Dollar　The 10Y yield pulled back from its high to about 4.45%, while the short end stabilized from its post-FOMC high;DXY 100.81 (+0.72%)holding above 100

Risk & Breadth　VIX slumped -11.06% to 16.40, breadth back positive (top 200: 117 up vs 83 down), Russell +2.12% leading gains

🔍 3 Focus Points to Watch

• Sustainability of the semiconductor rebound + MU earnings on 6/24 ⭐⭐⭐ — After the FOMC sell-off, chips rallied strongly for a second straight day, with SMH +5.76% recovering lost ground and the memory group staging a revenge rally (MU +8.70% / SNDK +11.54% / WDC +4.79%). Next Wednesday 6/24 MU FY26 Q3 earnings will be the ultimate test of the HBM/DRAM price-hike cycle, with a Fwd P/E of just 9.9x; whether it can break the “good results, falling stock” curse is the key for memory bulls.

• Durability of the U.S.–Iran peace deal ⭐⭐ — The peace deal boosted risk appetite and VIX fell back to 16.40, though defense stocks saw profit-taking (LMT -4.01% / RTX -3.62% / GD -3.53%) and oil lingered at low levels (USO +0.56%, 20D -20%). Whether the ceasefire holds and whether geopolitical risks resurface will determine safe-haven sentiment and the direction of oil.

• Digesting Fed hawkishness + 6/26 PCE ⭐⭐ — On the first trading day after the hawkish FOMC dot plot, the market chose to buy back chips and digest rate-hike expectations; yields pulled back from their highs.Tonight 6/19 U.S. markets closed for Juneteenth, and next Friday 6/26's May PCE will be the key data point for testing inflation stickiness and this year's rate-hike expectations.

⚡ This week's rhythm：6/16 (Tue) semiconductor profit-taking → 6/17 (Wed) hawkish FOMC dot plot hammered mega-cap tech, chips bounced against the trend → 6/18 (Thu, shown) semiconductor revenge rally + U.S.–Iran peace, all three indices closed green → Tonight 6/19 (Fri) U.S. markets closed for Juneteenth → 6/23 (Tue) FDX earnings → 6/24 (Wed) MU earnings ⭐⭐⭐ → 6/26 (Fri) May PCE ⭐⭐

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🏛 Market Backdrop 6/18 close

SPY S&P 500

$746.74

on the day +0.78%

Index 7,500.58

QQQ Nasdaq 100

$740.62

on the day +2.51%

Nasdaq 26,517.93

IWM Russell 2000

$295.59

on the day +1.97%

small caps led gains

SMH Semiconductor ETF

$659.88

on the day +5.76%

led the broad market, chips exploded

🌡 Macro Risk Signals 6/18 close · Futu / CNN actuals

VIX / VXN volatility

VIX 16.40 -11.06%

VXN 26.31 -7.88%

VIX from 18.44 plunged -11.06% back to 16.40, returning to the low comfort zone — U.S.–Iran peace + the chip rebound lifted risk appetite and digested FOMC hawkishness; VXN likewise fell back to 26.31, with volatility clearly converging after the quadruple-witching day.

10Y / 2Y Treasury yields

about 4.45%

10Y -1bp· short end stabilizing from its post-FOMC high

The day after the hawkish FOMC, yields pulled back slightly from their highs, 10Y about 4.45% (-1bp); with yields no longer pressing higher, plus U.S.–Iran peace and the chip rebound, growth stocks whose valuations were compressed the prior day got some breathing room. 30Y about 4.90%.

DXY Dollar / WTI Crude

~100.81

the dollar on the day +0.72% holding above 100

Continued FOMC hawkishness pushed the dollar higher holding above 100 (+0.72%), pressuring resource / pharma ADRs (BHP / RIO / GSK / NVS weakened);USO Crude Oil ETF +0.56%, after U.S.–Iran peace oil lingered at low levels (20D -20%), and inflation pressure stabilized for now.

Fear & Greed Index

about 50-55, neutral leaning greedy

peace + the rebound lifted sentiment

CNN F&G estimated to have recovered from yesterday's neutral-leaning-fear to about 50-55 (neutral leaning Greed): VIX plunged, breadth turned positive (117 up vs 83 down), and U.S.–Iran peace boosted risk appetite.(not a real-time official figure; estimated range)

S&P 500 valuation

PE ~25.1 (trailing)

Fwd PE ~21.7

The index rebounded +1.08% and Fwd PE recovered from 21.4 to ~21.7, still above the 10-year average of 18.9; the pullback in yields from their highs eased valuation pressure for now, but the “rate hike within the year” pricing has not faded and valuation caution remains.(not a real-time official figure)

Nasdaq 100 valuation

PE ~33.3 (trailing)

Fwd PE ~25.6

QQQ rebounded +2.51% and the multiple recovered to ~33.3; semiconductors / memory led gains and lifted valuations, while high-valuation software remained relatively weak. Under rate-hike expectations, high-multiple tech remains volatile.(not a real-time official figure)

📅 Earnings / Key Events in the Next 2 Weeks 6/18 - 7/2

📌 Major Tech / Semiconductor Earnings

6/18 (Thu, reported)	ACN　Accenture · pre-market ✕ sharp drop Q3 FY26 guidance / AI consulting orders fell short of expectations, ACN plunged about -18% intraday, a hard-hit stock amid fears that “AI is replacing enterprise IT consulting”; but it did not drag down the broad market, as semiconductor strength alone masked software-services weakness.
6/19 (Fri)	U.S. markets closed for Juneteenth All markets closed for one day, shortening the trading week to 4 days; event density this week is extremely high (FOMC + quadruple witching + holiday).
6/23 (Tue)	FDX　FedEx · after-hours ⭐ Q4 FY26; a bellwether for global trade volumes / economic conditions, with shipment volumes under tariffs and consumer momentum in focus. KBH / CCL also report the same day.
6/24 (Wed)	MU　Micron FY26 Q3 · after-hours ⭐⭐⭐ The most important earnings of the next two weeks: the biggest test of the HBM / DRAM price-hike cycle.6/18 rebounded +8.70% to close $1,133.99, 20D +54.92%, ranking 6th on the main list, Fwd P/E just 9.9x. PAYX / JEF the same day.
6/30 (Tue)	NKE　Nike · after-hours Q4 FY26; a bellwether for consumer / tariff-sensitive stocks, with the China market and inventory-destocking progress in focus.

Earnings theme: 6/24 MU is the ultimate test of the memory price-hike cycle. With a low Fwd P/E of 9.9x and tailwinds from a rising spot market, MU rebounded +8.70% on 6/18; whether it can break the “good results, falling stock” curse is a key battle for semiconductor bulls; ACN's plunge highlights how picky capital is about software services.

📊 Macro Events · Next 2 Weeks

6/18 (Thu, reported)	U.S.–Iran peace deal ★ bullish The U.S. ended its blockade of Iran and the two sides reached a peace deal; the geopolitical premium unwound and risk appetite recovered; defense stocks saw profit-taking (LMT / RTX / GD weakened) and oil lingered at low levels.
6/19 (Fri)	U.S. markets closed for Juneteenth Markets close two days after the FOMC, shortening the trading week to 4 days; the next trading day is 6/22 (Mon).
6/24 (Wed)	MU earnings (see also left column) A test of the memory price-hike cycle; a key check of whether high-valuation growth stocks can be supported by earnings after the FOMC.
6/26 (Fri)	May PCE prices ⭐⭐ The Fed's preferred inflation gauge; after the hawkish FOMC it tests inflation stickiness and shapes the July meeting and this year's rate-hike expectations — the next biggest macro variable.
6/27 (Sat, Taipei)	Continued fallout from the 6/26 PCE Includes the final University of Michigan consumer sentiment reading; watch the direction of yields and rate-hike expectations after the PCE release.

Theme: U.S.–Iran peace (reported) → 6/24 MU earnings → 6/26 PCE. The market already chose to buy back chips and digest rate-hike expectations the day after the hawkish FOMC; yields pulled back from their highs. The PCE inflation data will determine whether this year's rate-hike expectations strengthen further or loosen.

💡 Key Observations

🔥 Biggest 1-day gainers 6/18 (top 200 by market cap)

BE +15.41%, SNDK +11.54%, GLW +11.13%, INTC +10.64%, KLAC +8.73%, MU +8.70%, ASX +8.33%, MRVL +7.27%, TXN +6.95%, TSM +6.94%, QCOM +6.17%, GEV +5.80%, ARM +4.91%, VRT +4.87%, AMD +4.86%, ADI +4.83%, WDC +4.79%, AVGO +4.70%

The gainers list was memory / storage (SNDK / MU / WDC) + foundry / analog (INTC / TSM / TXN / ADI) + equipment (KLAC / AMAT) + OSAT (ASX)dominated — a broad semiconductor revenge rally; BE +15.41% top fuel-cell gainer, GLW +11.13% strong gain in fiber-optic materials. SMH +5.76% leading.

📉 Biggest 1-day decliners 6/18 (top 200 by market cap)

IBM -5.05%, LMT -4.01%, RTX -3.62%, SPCX -3.56%, GD -3.53%, COP -3.12%, SCHW -2.97%, GSK -2.84%, BHP -2.76%, PFE -2.74%, BP -2.59%, NVS -2.52%, RIO -2.52%, JNJ -2.48%, JPM -2.47%, DELL -2.34%

The decliners were concentrated in defense (LMT / RTX / GD) + energy (COP / BP) + pharma / resource ADRs (GSK / NVS / BHP / RIO) + financials (SCHW / JPM) — U.S.–Iran peace prompted profit-taking in defense / oil & gas, and a strong dollar pressured resources and pharma; IBM -5.05% led software-services declines, and DELL gave back gains from a high base.

🔌 Key Story 1: Semiconductor revenge rally, memory group explodes

The day after the hawkish FOMC sell-off, semiconductors — already strong against the trend the prior day — exploded further, SMH +5.76% leading. Memory / storage surged across the board: SNDK +11.54%, MU +8.70%, WDC +4.79%, STX +0.39%; foundry / analog / equipment also soared together (INTC +10.64%, TSM +6.94%, TXN +6.95%, KLAC +8.73%, AMAT +4.08%). Capital confirmed the continuation of the “rate hikes hit software, money rotates back into chips” rotation, with low-valuation memory (MU 9.9x / SNDK 11.9x) most favored.

20D main list 16 → 17 names (dropping GE, adding ASX / ANET); 5D momentum list 31 → 19 names (converging onto a semiconductor / memory / power core). The memory / HDD sector's 20D average +45.9% remains firmly the top sub-sector.

🕊 Key Story 2: U.S.–Iran peace + digesting Fed hawkishness, risk appetite recovers

The U.S. ended its blockade of Iran and reached a peace deal; the geopolitical premium unwound, VIX plunged -11.06% back to 16.40, Russell +2.12% leading gains, breadth back positive (117 up vs 83 down). On the first trading day after the hawkish FOMC dot plot, the market chose to digest rate-hike expectations and yields pulled back from their highs (10Y ~4.45%). However, defense stocks saw profit-taking (LMT -4.01%, RTX -3.62%, GD -3.53%), oil lingered at low levels, and a strong dollar pressured resources and pharma.

To watch next: whether the ceasefire holds, and the 6/26 PCE inflation data.Tonight 6/19 closed for Juneteenth; the next trading day is 6/22 (Mon); whether peace and the chip rebound can continue, and the direction of yields, are key.

🔎 Focus Stocks: MU / SNDK / WDC / NVDA memory group revenge rally

MU Micron — $1,133.99 (6/18 +8.70%)6/24 earnings

• Momentum: 5D +13.87%, 20D +54.92%, YTD +297.49%, market cap $1.28T

• single-day +8.70%, new high: revenge rally to close $1,133.99, 20D +54.92%, ranking 6th on the main list; the biggest beneficiary of HBM / DRAM price hikes.

• Fwd P/E just 9.9, the lowest among large-cap semiconductors; 6/24 FY26 Q3 earningsis the ultimate test of the price-hike cycle (TTM net income $24.1B), and volatility will amplify ahead of the report.

SNDK SanDisk — $2,184.75 (6/18 +11.54%)NAND pure-play

• Momentum: 5D +16.12%, 20D +56.89%, YTD +820.36%, market cap $323.5B

• single-day +11.54%, leading memory gains: broke above $2,000, 20D +56.89%, ranking 5th on the main list; the purest play on NAND price hikes.

• Fwd P/E 11.9, TTM net income $4.5B; YTD +820% is the list's top gainer, with rising NAND spot quotes as core momentum.

WDC Western Digital — $746.23 (6/18 +4.79%)5D leader

• Momentum: 5D +40.99%, 20D +62.40%, YTD +333.49%, market cap $257.2B

• 5D +40.99%, retaining the 5D top spot: HDD continued to lead, 20D +62.40%, jumping to 4th on the main list; cloud HDD capacity demand is the firmest.

• Fwd P/E 41.3, TTM net income $6.4B; together with STX (5D +23.29%) it forms the HDD duo, with the strongest storage-chain momentum.

NVDA Nvidia — $210.69 (6/18 +2.95%)AI heavyweight recovers

• Momentum: 5D +2.84%, 20D -5.61%, YTD +13.11%, market cap $5.10T

• single-day +2.95% recovery: closed $210.69, back above $210; but 20D -5.61% still makes it a relatively lagging AI heavyweight, awaiting catch-up gains.

• Fwd P/E 16.6, TTM net income $159.6B (highest on the list); the AI leader has the most stable fundamentals, and its 20D repair is key to extending the broad-market uptrend.

🚀 Momentum Picks: 5 NamesSelection logic: multi-timeframe alignment (both 20D & 5D strong) + relative strength (6/18 semiconductor revenge rally, outperforming the market's +1.08%) + breakout / new highs

1SNDK SanDiskNAND

1D +11.54%5D +16.12%20D +56.89%YTD +820.36%Fwd P/E 11.9

Strong across all three timeframes and the day's memory leader: 1D +11.54% broke above $2,000, 20D 5th on the main list, the purest NAND price-hike play, YTD +820% the list's top gainer.

2WDC Western DigitalHDD storage

1D +4.79%5D +40.99%20D +62.40%YTD +333.49%Fwd P/E 41.3

5D leader, the purest trend: 5D +40.99% tops the 5D list, 20D 4th on the main list, cloud HDD demand the firmest and storage-chain momentum the strongest.

3MU MicronDRAM/HBM/NAND

1D +8.70%5D +13.87%20D +54.92%YTD +297.49%Fwd P/E 9.9

Momentum + low valuation + event, three-in-one: revenge rally +8.70% to a new high, 20D 6th, 6/24 earnings as a catalyst, Fwd just 9.9x; leave room for stops ahead of the report.

4INTC IntelCPU / foundry

1D +10.64%5D +14.56%20D +12.63%YTD +263.12%Fwd P/E 86.7

Explosive catch-up, breakout type: +10.64% on the day, among the top gainers, 5D +14.56% newly on the 5D list, with the foundry theme strengthening; but Fwd 86.7x is high and TTM net income is still negative — a high-beta bounce.

5ARM Armsemiconductor IP

1D +4.91%5D +28.41%20D +71.18%YTD +302.03%Fwd P/E 143.2

20D gain leader, the strongest trend: 20D +71.18% retains the top of the main list, on the list for 17 straight days, but a Fwd P/E of 143x is extremely high — tightly control position size when chasing.

*These “momentum picks” are screened by price momentum (multi-timeframe alignment + relative strength + breakout), not by fundamentals or valuation ratings; high-momentum names also pull back quickly — watch for volatility around the 6/24 MU earnings, and be sure to set stops and position limits. Each % is Futu's 6/18 close actual, and Fwd P/E is Yahoo's value for the day. This information is for reference only and does not constitute investment advice.

📋 Full ListTop 200 by market cap · 20D gain > 20% · sorted by 20D

Memory / Storage Semiconductor Equipment Logic / IP / ASIC CPU AI Servers Connectors / Materials Space Financials Power ｜ Green= 6/18 up Red= 6/18 down

Ticker / Name

Price

Gain (20D)

1D (6/18)

20D

YTD

Fwd P/E

Net income ($100M)

Market cap ($100M)

Rank / Days on list

ARM Armsemiconductor IP

439.46

+4.91%

+28.41%

+71.18%

+302.03%

143.2

9 as of 3/31

4,694

— +17

DELL DellAI Servers

409.50

-2.34%

+4.61%

+68.57%

+227.74%

19.4

84 as of 5/1

2,654

— +17

MRVL MarvellASIC / networking chips

310.58

+7.27%

+10.64%

+66.26%

+265.92%

50.3

25 as of 5/2

2,717

— +17

WDC Western DigitalHDD storage

746.23

+4.79%

+40.99%

+62.40%

+333.49%

41.3

64 as of 4/3

2,572

— +4

SNDK SanDiskNAND

2,184.75

+11.54%

+16.12%

+56.89%

+820.36%

11.9

45 as of 4/3

3,235

▲5 +6

MU MicronDRAM/HBM/NAND

1,133.99

+8.70%

+13.87%

+54.92%

+297.49%

9.9

241 as of 2/26

12,800

▼1 +6

AMAT Applied MaterialsSemiconductor Equipment

617.11

+4.08%

+11.67%

+44.75%

+140.73%

38.0

85 as of 4/26

4,900

▼1 +6

HOOD RobinhoodBrokerage / Financials

108.15

+2.80%

+17.26%

+42.75%

-4.38%

38.0

19 as of 3/31

974

▲1 +2

STX SeagateHDD storage

1,070.23

+0.39%

+23.29%

+42.49%

+289.30%

39.5

24 as of 4/3

2,400

▼2 +4

KLAC KLASemiconductor Equipment

259.56

+8.73%

+7.63%

+41.88%

+114.17%

51.4

47 as of 3/31

3,391

▲1 +6

SPCX SpaceXSpace / Satellite

185.00

-3.56%

+37.04%

—

-94 as of 3/31

24,300

▼3 +4

LRCX Lam ResearchSemiconductor Equipment

389.04

+3.97%

+7.39%

+33.29%

+127.70%

48.8

67 as of 3/29

4,865

— +6

APH AmphenolConnectors

163.96

+1.77%

+7.54%

+33.25%

+21.57%

28.8

45 as of 3/31

2,017

— +4

ASX ASEIC OSAT

40.56

+8.33%

+10.22%

+27.99%

+151.93%

28.3

—

905

★ new ★ new

ASML ASMLEUV equipment

1,929.68

+3.31%

+1.59%

+24.49%

+81.00%

40.1

100 as of 3/29

7,437

▼1 +4

ANET Aristanetworking equipment

169.67

+2.87%

+8.48%

+20.77%

+29.49%

38.1

37 as of 3/31

2,137

★ new ★ new

AMD AMDCPU/GPU

537.37

+4.86%

+10.02%

+20.06%

+150.92%

41.0

49 as of 3/28

8,762

▼1 +4

*List changes (vs 6/17): this period 16 → 17 names, 1 removed — GE (20D pulled back, fell below the 20% threshold); 2 added — ASX (OSAT, 20D +27.99%), ANET (networking, 20D +20.77%).ARM retains the top spot with 20D +71.18%, DELL +68.57% 2nd, MRVL +66.26% 3rd. Amid the semiconductor revenge rally, SNDK jumped ▲5 in rank. The gain bar chart uses ARM's 20D +71.18% as the 100% baseline. Rank / Days on list(right of the market-cap column): the first part ▲N= rank rose N places vs the prior trading day (6/17), ▼N= fell, —= unchanged, ★ new= newly on the list today; the colored second part +N= number of consecutive trading days on the list (including today, colored by length: blue ≥10 days / purple 5–9 days / orange 1–4 days; this data is counted from 5/28). Net income= sum of the last four quarters (TTM), in units of $100M (each stock's “as of M/D” is the end date of its latest reported quarter); to be updated after the next quarter's earnings.

📋 Full List (5D momentum)Top 200 by market cap · 5D gain > 10% · sorted by 5D

Memory / Storage Semiconductor Equipment Logic / IP / ASIC CPU AI Servers Connectors / Materials Space Financials Power ｜ Green= 6/18 up Red= 6/18 down

Ticker / Name

Price

Gain (5D)

20D

1D (6/18)

YTD

Fwd P/E

Net income ($100M)

Market cap ($100M)

Rank / Days on list

WDC Western DigitalHDD storage

746.23

+40.99%

+62.40%

+4.79%

+333.49%

41.3

64 as of 4/3

2,572

— +5

SPCX SpaceXSpace / Satellite

185.00

+37.04%

-3.56%

+37.04%

—

-94 as of 3/31

24,300

— +5

BE Bloom Energyfuel cells / power

328.91

+32.16%

+16.51%

+15.41%

+278.54%

75.7

0 as of 3/31

936

★ new ★ new

ARM Armsemiconductor IP

439.46

+28.41%

+71.18%

+4.91%

+302.03%

143.2

9 as of 3/31

4,694

▼1 +5

STX SeagateHDD storage

1,070.23

+23.29%

+42.49%

+0.39%

+289.30%

39.5

24 as of 4/3

2,400

▼1 +4

GEV GE Vernovapower equipment

1,109.73

+22.44%

+8.37%

+5.80%

+70.11%

45.3

94 as of 3/31

2,982

— +2

HOOD RobinhoodBrokerage / Financials

108.15

+17.26%

+42.75%

+2.80%

-4.38%

38.0

19 as of 3/31

974

▼2 +2

SNDK SanDiskNAND

2,184.75

+16.12%

+56.89%

+11.54%

+820.36%

11.9

45 as of 4/3

3,235

— +5

INTC IntelCPU / foundry

133.99

+14.56%

+12.63%

+10.64%

+263.12%

86.7

-32 as of 3/28

6,734

▲9 +2

MU MicronDRAM/HBM/NAND

1,133.99

+13.87%

+54.92%

+8.70%

+297.49%

9.9

241 as of 2/26

12,800

▼1 +2

VRT VertivAI power / cooling

333.05

+11.83%

+5.53%

+4.87%

+105.66%

37.6

16 as of 3/31

1,279

▲9 +2

AMAT Applied MaterialsSemiconductor Equipment

617.11

+11.67%

+44.75%

+4.08%

+140.73%

38.0

85 as of 4/26

4,900

▼5 +6

QCOM Qualcommmobile chips

226.11

+11.41%

+12.07%

+6.17%

+33.53%

21.2

99 as of 3/29

2,383

▲12 +2

CEG Constellation Energynuclear / AI power

274.06

+11.09%

-2.56%

+2.58%

-22.20%

20.2

38 as of 3/31

990

▲17 +2

COF Capital OneFinancials

201.53

+10.71%

+7.64%

+0.33%

-16.17%

8.3

26 as of 3/31

1,254

▲4 +2

MRVL MarvellASIC / networking chips

310.58

+10.64%

+66.26%

+7.27%

+265.92%

50.3

25 as of 5/2

2,717

▼5 +2

GLW Corningglass / fiber optics

194.92

+10.40%

+8.04%

+11.13%

+123.37%

46.6

18 as of 3/31

1,678

★ new ★ new

ASX ASEIC OSAT

40.56

+10.22%

+27.99%

+8.33%

+151.93%

28.3

—

905

★ new ★ new

AMD AMDCPU/GPU

537.37

+10.02%

+20.06%

+4.86%

+150.92%

41.0

49 as of 3/28

8,762

▼2 +2

*5D momentum list (5D gain > 10%): this period 31 → 19 names (converging onto a semiconductor / memory / power core, with many financials and industrials dropping off).WDC retains the top spot with 5D +40.99%, SPCX +37.04% 2nd, BE +32.16% newly 3rd.CEG jumped ▲17 in rank, QCOM ▲12, INTC / VRT ▲9 (power + foundry catch-up). The gain bar chart uses WDC's 5D +40.99% as the 100% baseline. Column and color-code notes are the same as the table above; Net income= sum of the last four quarters (TTM), in units of $100M; “as of M/D” is the end date of the latest reported quarter, updated after the next quarter's earnings.

🤖 AI Sub-sector Breakdown after 6/18 close · 20D average

🧠 Memory / HDD　20D +45.9%

WDC +62.40%, STX +42.49%, MU +54.92%, SNDK +56.89%, INTC +12.63%. Firmly the top sub-sector; 6/18 revenge rally (SNDK +11.54% / MU +8.70% / WDC +4.79% / INTC +10.64%), with the strongest memory momentum.

⚙ Semiconductor Equipment　20D +36.1%

AMAT +44.75%, KLAC +41.88%, LRCX +33.29%, ASML +24.49%. All four are on the 20D main list; 6/18 broad rebound (KLAC +8.73% / AMAT +4.08% / LRCX +3.97% / ASML +3.31%).

💻 CPU / Mobile Chips　20D +29.0%

ARM +71.18%, AMD +20.06%, INTC +12.63%, QCOM +12.07%. ARM alone props up the average, +4.91% on 6/18 extending its strength; AMD +4.86% / INTC +10.64% / QCOM +6.17% exploded together.

🔗 Logic / ASIC / Networking　20D +28.5%

MRVL +66.26%, ANET +20.77%, AVGO -1.53%. MRVL ranks 3rd on 20D, +7.27% strong bounce on 6/18; AVGO +4.70% (20D nearing positive), ANET +2.87% newly on the main list.

🛡 AI Cybersecurity　20D +11.1%

PANW +16.67%, FTNT +11.33%, CRWD +5.35%. 6/18 recovered with the broad market (PANW +2.0% / FTNT +0.4% / CRWD +0.3%) — modest gains, lagging the semiconductor rebound.

⚡ AI Power Infrastructure　20D +8.3%

GE +19.15%, ETN +11.08%, GEV +8.37%, VRT +5.53%, CEG -2.56%. 6/18 power broadly rebounded (GEV +5.80% / VRT +4.87% / CEG +2.58%); GEV / VRT / CEG entered the 5D momentum list.

☁ Software / AI Cloud　20D -5.1%

SHOP +3.66%, ORCL -2.06%, APP -2.61%, PLTR -6.33%, NOW -8.00%, CRM -15.51%. At the bottom; 6/18 relatively lagging (APP -2.04% / PLTR -1.65% / ORCL +0.41%), and ACN's plunge highlighted software-services weakness.

📊 Sub-sector Strength Ranking (20D average)

Memory / HDD +45.9% ＞ Semiconductor Equipment +36.1% ＞ CPU / Mobile Chips +29.0% (led by ARM) ＞ Logic / ASIC / Networking +28.5% ＞ AI Cybersecurity +11.1% ＞ AI Power Infrastructure +8.3% ＞ Software / AI Cloud -5.1% at the bottom. 6/18 “hardware strong, software weak” structure continued and deepened: semiconductors / memory / equipment staged a broad revenge rally, with memory/HDD and equipment leading; high-valuation software (CRM / NOW / PLTR) remained last on 20D, and ACN's plunge intensified software-services concerns.

📈 Breadth Snapshot Top 200 by market cap · 6/18 advancers/decliners

Advancers

117

about 59% (of the top 200 stocks); semiconductors / memory leading

Decliners

about 41%; defense / energy / pharma / financials weak

Advance/decline ratio

1.41 : 1

sharply stronger than 6/17 (1:2.7), breadth back positive

*6/18 breadthback positive (1.41:1, 117 up vs 83 down): a sharp improvement from 6/17 (1:2.7, extremely weak), showing a “semiconductors / memory leading, risk appetite recovering” structure — gains concentrated in semiconductors / memory / equipment / power, while defense (bearish on peace), energy (weak oil), pharma / resources (strong dollar) and financials turned red. U.S.–Iran peace + the chip revenge rally + the pullback in yields were the main drivers of breadth turning positive.

🔁 6/17 → 6/18 Change Tracker

Stock	6/17 close (back-calculated)	6/18 close	6/18 change	Change highlights
BE Bloom Energy	$284.98	$328.91	+15.41%	the day's strongest gainer; fuel cell / AI power theme exploded, newly on the 5D list
SNDK SanDisk	$1,958.72	$2,184.75	+11.54%	broke above $2,000; NAND leading gains, 20D 5th
GLW Corning	$175.40	$194.92	+11.13%	fiber-optic / glass materials surged, newly on the 5D list
INTC Intel	$121.10	$133.99	+10.64%	foundry theme strengthened, 5D +14.56% catch-up
KLAC KLA	$238.72	$259.56	+8.73%	equipment bounced strongly, 20D +41.88%, 10th on the main list
MU Micron	$1,043.23	$1,133.99	+8.70%	revenge rally to a new high; counting down to 6/24 earnings, 20D 6th
AVGO Broadcom	$392.89	$411.35	+4.70%	AI ASIC kept bouncing, 20D -1.53% nearing positive
NVDA Nvidia	$204.65	$210.69	+2.95%	AI heavyweight reclaimed $210; 20D -5.61% still to repair
DELL Dell	$419.31	$409.50	-2.34%	profit-taking from a high base; 20D +68.57% still 2nd
IBM IBM	$364.94	$346.51	-5.05%	led software-services declines; ACN's plunge dragged down the IT consulting group

*The 6/17→6/18 theme shifted from “hawkish FOMC, mega-cap tech sell-off” to “semiconductor revenge rally + U.S.–Iran peace”: chips rallied for two straight days, SMH +5.76% recovered lost ground, memory / storage / equipment exploded across the board (SNDK +11.54% / MU +8.70% / INTC +10.64% / KLAC +8.73%), and NVDA / AVGO recovered together; but defense (bearish on peace), software services (IBM / ACN) and financials turned red. 20D main list 16 → 17 names (dropping GE, adding ASX / ANET); 5D momentum list 31 → 19 names. The prior day's close is back-calculated as 6/18 close ÷ (1 + 6/18 change%).

📝 Summary Core conclusions after the 6/18 close

① Market structure: The day after the hawkish FOMC dot plot, semiconductors staged a revenge rally and the U.S.–Iran peace deal added a boost; all three indices closed green:Dow +0.14% to 51,564.70, S&P +1.08% to 7,500.58, Nasdaq +1.91% to 26,517.93, SMH +5.76% leading, Russell +2.12%.VIX plunged -11.06% to 16.40, the 10Y yield pulled back from its high to ~4.45%, DXY held at 100.81. Breadth turned positive (117 up vs 83 down, 1.41:1) — a rebound session of “semiconductors / memory leading, risk appetite recovering.”

② Theme 1: Semiconductor revenge rally, memory group explodes: chips, already strong against the trend the prior day, exploded further across the board, SMH +5.76%. Memory / storage (SNDK +11.54%, MU +8.70%, WDC +4.79%) + foundry / analog / equipment (INTC +10.64%, TSM +6.94%, TXN +6.95%, KLAC +8.73%) soared. Capital confirmed the continuation of the “rate hikes hit software, money rotates back into low-valuation chips” rotation, with low-valuation memory (MU 9.9x / SNDK 11.9x) most favored; the memory / HDD sector's 20D average +45.9% remains firmly the top sub-sector.

③ Theme 2: U.S.–Iran peace + digesting Fed hawkishness, risk appetite recovers: The U.S. ended its blockade of Iran and reached a peace deal; the geopolitical premium unwound, VIX plunged -11.06% back to 16.40, Russell led gains, breadth turned positive. The day after the hawkish FOMC, the market chose to digest rate-hike expectations and yields pulled back from their highs. However, defense stocks saw profit-taking (LMT -4.01%, RTX -3.62%, GD -3.53%), oil lingered at low levels, and a strong dollar pressured resources and pharma (BHP / RIO / GSK / NVS).

④ Theme 3: Software-services weakness, ACN plunges: ACN (Accenture) plunged about -18% intraday after earnings, IBM -5.05% led software-services declines, highlighting capital's fears over “AI replacing enterprise IT consulting”; the software / AI cloud 20D average -5.1% remained last among sub-sectors (CRM -15.51% / NOW -8.00% / PLTR -6.33%). Caught between rate hikes and AI-monetization doubts, high-valuation software remains the weakest link.

⑤ List changes: 20D main list 16 → 17 names (dropping GE, adding ASX / ANET); ARM retains the top spot with +71.18%, DELL +68.57% 2nd, MRVL +66.26% 3rd, SNDK jumped ▲5 in rank. 5D momentum list 31 → 19 names (converging onto a semiconductor / memory / power core, with many financials and industrials dropping off, CEG ▲17 / QCOM ▲12 catch-up). Sub-sectors: Memory/HDD +45.9% ＞ Semiconductor Equipment +36.1% ＞ CPU / Mobile Chips +29.0% ＞ Logic/ASIC/Networking +28.5% ＞ AI Cybersecurity +11.1% ＞ AI Power +8.3% ＞ Software / AI Cloud -5.1% at the bottom.

⑥ Conclusion & This Week's Strategy: The day after the hawkish FOMC, the market chose to digest rate hikes and buy back low-valuation chips; semiconductors staged a revenge rally, the U.S.–Iran peace deal lifted risk appetite, breadth turned positive and VIX plunged. On positioning: memory / storage / equipment, with low valuations (MU 9.9x / SNDK 11.9x) and price-hike fundamentals, remain the core, and HDD (WDC / STX) has the strongest momentum; 6/24 MU earningsare a key battle for memory bulls — leave room for volatility ahead of the report; NVDA / AVGO have 20D repair pending and may be watched for catch-up gains; high-valuation software (CRM / NOW / PLTR) stays weak under rate hikes + AI-monetization doubts, ACN's plunge is a warning sign, and chasing should be restrained.Tonight 6/19 closed for Juneteenth, the next trading day is 6/22 (Mon); watch the durability of the ceasefire, the direction of yields and the 6/26 PCE.

Sources: Futu U.S. top-200-by-market-cap list (6/18 close), Yahoo Finance (indices / ETFs / risk indicators / Fwd P/E / net income), CNN Fear & Greed Index (estimated).
This report is for reference only and does not constitute investment advice. All percentages are Futu / Yahoo actuals; F&G and S&P / NDX PE are non-real-time, estimated figures.
DAILY US EQUITY · 2026-06-19 (6/18 U.S. close)

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