Market review from UTEX — week 20

U.S. indices are rewriting all-time highs — six consecutive weeks of gains. The SPY gained 2.35%, while the Nasdaq surged 5.5%.

Memory chipmakers are among the main beneficiaries of the AI rally: Micron Technology +37%, Sandisk +31% for the week, and growth in this sector is accelerating. Semiconductor companies also posted impressive results — Advanced Micro Devices gained 26% after its report, Intel +25% thanks to a preliminary agreement with Apple to manufacture chips for its devices.

Trump's visit to China is scheduled for May 14–15. He is expected to be accompanied by a large delegation of U.S. companies.

On Tuesday, the Consumer Price Index (CPI) will be released, followed by producer inflation on Wednesday. This data directly impacts the Fed's future interest rate decisions.

Earnings season has passed its peak. This week, the most interesting results will be reported by Cisco Systems, Alibaba, Nebius Group, Applied Materials, AST SpaceMobile, Sea Limited, Oklo, D-Wave Quantum, and Figma.

Top ideas for trading this week

🔴 Nebius Group (NBIS). Report on May 13 before market open. A provider of AI cloud infrastructure. On May 1, the company acquired Eigen AI — a model optimization and data inference company — for $643 million. The stock has risen 105% over the quarter (+527% over the year). Given how AI stocks have recently popped after earnings, we expect high volatility.

🔴 AST SpaceMobile (ASTS). Report on May 11 after market close. Intuitive Machines (LUNR). Report on May 14 before market open. RKLB, recommended last week, rose 33% after its report. Unlike Rocket Lab, AST SpaceMobile is still trading well below its all-time highs, and Intuitive Machines has a relatively small market cap. Another way to invest in space is to buy the long-term space ETF Tema Space Innovators (NASA), which includes these companies.

🔴 JD.com (JD). Report on May 12 before market open. Tencent Music (TME). Report on May 12 before market open. Alibaba Group (BABA). Report on May 13 before market open. Ahead of Trump's upcoming visit to China, it's worth looking at Chinese stocks. Surprises are possible.

🔴 Oklo (OKLO). Report on May 12 after market close. The company is developing the Aurora mini-nuclear reactor, which can power data centers, industrial facilities, and military bases. In October, the price reached $193. Since then, the stock has been in a downtrend and found support around $45. A new wave of growth has been emerging since April. Prices seem quite reasonable for the medium term, but risks are also quite high.

🔴 Micron Technology (MU), SanDisk (SNDK), Western Digital (WDC), Seagate Technology (STX). Memory chipmaker stocks remain among the most volatile on the market. For those who like strong intraday moves.

 High risk — for pros.

Profitable deals!

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