Micron powered tech higher and the Nasdaq to a record close as investors continue to pile into the stock. Melius Research’s Ben Reitzes breaks down the market action in the chips sector and his latest move upping the price target on both Apple and Dell. Our Annika Kim Constantino breaks down Eli Lilly’s three new acquisitions then our Seema Mody on the speculation SpaceX and Tesla could merge into a single public company. DataTrek’s Nick Colas on how the public markets are preparing for SpaceX’s mega-IPO.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Closing Bell Overtime: Micron, Chips Mania Rolls On 5/26/26

Closing Bell

# Full Transcript

**Podcast:** Closing Bell

## Transcript

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[SPEAKER_E] The bells bring an end to the trading day at the NYSE. Goldman Sachs ringing the bell and at the Nasdaq, Isabella Bank doing the honors here. Welcome to Closing Bell Overtime. We're live in Studio B at the Nasdaq MarketSite. I'm Melissa Lee, along with Mike Santoli. Stocks mostly higher, the Dow finishing in the red, but the broader indices all hitting record highs. Nasdaq powered by chips and memory again and the Russell 2000 up 1.5%.

[SPEAKER_C] Those record highs in tech driven, as we say, by the chip and memory space. We will look at whether whether you should stick with what's working or look for opportunity outside of tech. I would say, Mel, there was some strength outside of tech, but just not enough to really matter on the index level. It just seems like you go up 20% for Micron, it hits a trillion-dollar market cap, drags a lot of the other names like, you know, AMD along the way, and it sort of consumes a lot of the oxygen. The other piece of it is, of course, these other kind of hot pieces of the tape like space. The space ETFs are 40% month to date. So you have a lot of this kind of percolating action. At the same time, the overall market's figuring out what it means that oil's down a little bit and Treasuries are off a bit. And we have mixed messages on Iran.

[SPEAKER_E] But still, I would have thought that the pressure release on yields was just enough, along with oil prices being where they are, which is levels we haven't seen for over a month, would have been enough to put a little bit of a bid under retail, particularly Walmart, which really got dragged through the mud after its earnings release, didn't have a bid at all today. And I thought that was sort of very interesting, maybe telltale sign about the concern still being there for discretionary.

[SPEAKER_C] It is interesting. Costco was also weak. Now, of course, Walmart, Costco also in that kind of defensive staples kind of quality basket. And, you know, Visa was down. So I do think there...

Closing Bell Overtime: Micron, Chips Mania Rolls On 5/26/26

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Closing Bell Overtime: Micron, Chips Mania Rolls On 5/26/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.