Our Mackenzie Sigalos examines Apple&#x27;s latest price increases and what growing memory demand means for hardware makers and consumers. Gabriela Santos of JPMorgan Asset Management explains how investors should approach the latest rotation across semiconductors, big tech and the broader market. Chris Perkins of Franklin Templeton discusses what it will take for digital assets to find a durable bottom and what investors should watch next. Our Kate Rooney reports on the accelerating race by OpenAI and Anthropic to reach the public markets and what it could mean for the AI investment landscape. Tim Hayes of Ned Davis Research analyzes fresh economic data and its impact on rates and equities.<br><br>Leslie Picker reports on succession planning at JPMorgan and the latest developments surrounding Wall Street&#x27;s largest bank.<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: AI Trade Bounces Back As Micron Has Best Day in a Month  6/25/26

Closing Bell

# Full Transcript

**Podcast:** Closing Bell

## Participants

- **Mike Santoli** (None)
- **Christina Partsinevelos** (CNBC)
- **Mackenzie Sigalos** (CNBC)
- **Jay Goldberg** (Seaport Research)
- **Frank Holland** (CNBC)
- **Kate Rooney** (CNBC)
- **Tim Hayes** (Ned Davis Research)

## Transcript

Thursday, July 16th CNBC Sport and Boardroom join Fanatics Fest for Game Plan. Groundbreaking ideas shaping the future of sports and entertainment. Request your invite at CNBCEvents.com slash Game Plan.

The Bell is bringing an end to the trading day at the NYSE Barnes & Noble Education ringing the bell and at the NASDAQ Visteon doing the honors. We're going to close the bell overtime live from Studio B at the NASDAQ Market Site. I'm Mike Santoli. Melissa Lee is off today.

Another mixed day for the market. Small moves for the top line indexes but big moves underneath. The Dow up just about 50 points. Actually, just above the flat line there. S&P 500 down slightly. NASDAQ off for the fourth day in a row. The Russell posting a gain of about a quarter of a percent or thereabouts. A little more. The big story, the continued run of Micron and SanDisk but Apple falling as it has to raise prices because of memory chips.

Is tech becoming a zero-sum gain? Chips, especially memory, soaring. Everybody else paying the price. It seems to be the pattern. We'll dig deeper into that coming up. Let's start with more on today's big movers. Christina Partsinevelos has the details. Christine. Mike, I know you remember it, but earlier this week, just Monday, Tuesday, memory sell-off. It seems so long ago, but it's somewhat flipped on its head today. Thanks specifically to Micron. You can see closing 15% higher.

The Memory Makers blowout quarter, reviving pretty much the AI cycle story and its supply chain proxies, not the entire chip ecosystem. And that did help competitor SanDisk up about 22% today. Micron's CapEx commentary also a positive read for chip equipment names. So that's why you saw LAM Research, Applied Materials, KLA, all closing above 7% higher.

Qualcomm, completely different category, another standout, specifically on stronger fiscal 2029 outlooks. They're projecting $15 billion in data center revenue. They never had data center revenue before, so that's an increase nonetheless. And they also had four hyperscaler wins. Although it did definitely close off earlier highs. This morning was up about 13%, 14%, closing just below 4%.

The big problem is memory cost pressures. There's the flip side to it. Apple, Microsoft, both hiking hardware prices. Apple on MacBooks and iPads, Microsoft on Xbox. Both of those stocks closing in the red today. Dell, HPE, these are hardware providers also under pressure specifically on component costs, fueling talk of a third wave of AI-driven inflation, which really falls into the PCE number that we saw today.

And that squeeze, Mike, you've talked about it throughout the day, hitting the MAG7, which flipped back to somewhat o...

Closing Bell Overtime: AI Trade Bounces Back As Micron Has Best Day in a Month 6/25/26

Transcript

Built for investment professionals

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

Closing Bell Overtime: AI Trade Bounces Back As Micron Has Best Day in a Month 6/25/26

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.