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Wall Street Roundup: carving up the AI trade

Wall Street Breakfast

Brian Stewart, Seeking Alpha's Director of News. Always great to talk to you on a Friday at Wall Street Roundup. Welcome back to the show. It's great to be here. Talk to us. What is top of mind this week in July? Pretty light week in terms of especially corporate news. We're coming off the July 4th holidays. It's kind of the summer doldrums in general. Just vacations everywhere on Wall Street. So in a way, not too much going on, not a lot of catalysts.

We had, I think Iran was probably the biggest sort of macro headline guiding things this week. Though I think we're all just sort of used to the fact that we're in some sort of dark situationship with Iran at this point. It's not clear what our relationship is or what it's going to be, but we're working it out. So I think that's going to continue for the foreseeable future.

And I think the market has just sort of decided to not think too hard about it unless something really concrete, either good or bad takes place.

Meanwhile, on sort of the AI front, I think the big news this week was SK Hynix. It's a South Korean memory chip maker is preparing its IPO. It raised $26.5 billion of selling its ADRs priced at $149 a share per ADR. I mean scheduled to start trading on Monday.

So that's going to be a good litmus test of the amount of demand that's out there for new AI issuances. Micron, just as sort of a comparison, is down about 22% from the highs it reached about two weeks ago. So it hit highs just as its earnings were coming out and has been kind of drifting off that lately.

Wall Street Roundup: carving up the AI trade

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Wall Street Roundup: carving up the AI trade

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.