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Qualcomm Doubles Fiscal 2029 Non-Handset Revenue Target to $40B — Meta CPU Partnership and $3.92B Modular Acquisition Mark Chipmaker's AI Data Center Pivot

Qualcomm more than doubled its fiscal 2029 non-handset revenue target to $40 billion from $22 billion at its Investor Day, announcing Meta Platforms as its first data center customer for the Dragonfly C1000 CPU and a $3.92 billion all-stock acquisition of AI software startup Modular. Shares rose roughly 9% in regular trading after surging 15% in after-hours Wednesday, with data center alone targeted at $15 billion by 2029. Microsoft Azure also confirmed deployment of Qualcomm's High-Bandwidth Compute technology.

Apple Raises MacBook Neo by $100 to $699 and Base iPad by $100 to $449 — Stock Falls 5.3% as 'RAMageddon' Memory Shortage Forces Unprecedented Mid-Cycle Price Hikes

Apple raised prices across its Mac, iPad, HomePod, and Vision Pro lineup, with the entry MacBook Neo rising $100 to $699 and the base iPad increasing $100 to $449, blaming an unprecedented AI-driven memory shortage. CEO Tim Cook had flagged the increases, but the scope caught analysts off guard. Apple stock fell 5.3% as DRAM prices are projected to rise another 58% to 63% this quarter. Microsoft also raised Xbox console prices by up to $150. iPhone, Apple Watch, and AirPods were not affected.

All 32 Banks Pass 2026 Fed Stress Test as JPMorgan Unveils $50B Buyback and 10% Dividend Hike — Goldman Sachs, Wells Fargo, Morgan Stanley Follow With Double-Digit Increases

All 32 U.S. banks passed the Federal Reserve's 2026 annual stress test, absorbing $708 billion in projected losses while maintaining capital ratios above minimums. JPMorgan Chase raised its quarterly dividend 10% to $1.65 per share and authorized a new $50 billion buyback effective July 1. Goldman Sachs lifted its dividend 11% to $5 per share, Wells Fargo raised its payout 11% to $0.50, and Morgan Stanley boosted its dividend 15% to $1.15 per share while reauthorizing a $20 billion repurchase program.

Federal Reserve 2026 Bank Stress Tests Cover 32 Institutions — Capital Return Plans Face Key Examination

The Federal Reserve will release 2026 stress-test results covering 32 major U.S. banks after markets close. The scenario assumes unemployment reaching 10%, residential real estate prices falling 30%, and commercial real estate declining 39%. Although capital requirement changes have been delayed until 2027, investors remain focused on buyback plans, dividend capacity, and capital return programs. Strong results could reinforce confidence in the banking sector and support large financial institutions heading into the second half of the year.

Nasdaq 100 Futures Slide 3.1%, Kospi Plunges 10% — Global AI Selloff Hits SK Hynix and Samsung as Rate-Hike Fears Mount

Nasdaq 100 futures fell 3.1% in premarket trading Tuesday while South Korea's Kospi plunged nearly 10% — its worst session in years — as a global technology selloff intensified overnight. SK Hynix fell more than 12% and Samsung Electronics dropped sharply, triggering circuit breakers on South Korean exchanges. European markets followed, with ASML down 5% and the Euro Stoxx Technology index falling 3%. The selloff reflects mounting investor concern over Federal Reserve rate-hike signals and the cost of AI infrastructure debt.

Bitcoin Slides 1.1% to $64,215 — Fed's 3.8% Rate Forecast Sparks $82.2M in Spot ETF Outflows

Bitcoin fell 1.1% to $64,215 after the Federal Reserve held its benchmark rate steady but raised its year-end 2026 rate projection to 3.8%, signaling a more hawkish path than markets had priced. The shift triggered $82.2 million in outflows from U.S. spot bitcoin ETFs and sent shares of Strategy, the largest corporate bitcoin holder, down 5.2% in premarket trading. Ether and XRP also softened as traders reassessed liquidity assumptions heading into the second half of 2026.

Alphabet Dips 0.4% to $362.26 as Gemini Co-Lead Noam Shazeer Departs for OpenAI — Google Once Paid $2.7B to Bring Him Back

Alphabet shares slipped 0.4% to $362.26 in premarket trading after Noam Shazeer, the Gemini AI co-lead credited with closing the gap on ChatGPT, announced he is leaving Google to join rival OpenAI. Google reportedly paid $2.7 billion less than two years ago to bring Shazeer and his Character.AI team back into the fold, making his exit a fresh test of the company's ability to retain top AI talent. The move comes as Alphabet raised its planned equity sales to $84.75 billion.

Micron Technology Surges 10.8% to $1,088 — Bank Upgrades Fuel AI Memory Supercycle Bet Ahead of Q3 2026 Earnings

Micron Technology shares jumped 10.8% to roughly $1,088 after TD Cowen and RBC Capital Markets sharply raised price targets on the memory chipmaker. The rally was reinforced by a U.S.-Iran peace agreement that lifted risk appetite across semiconductors, alongside analyst forecasts that DRAM prices could climb 58% to 63% in the third quarter and HBM pricing could more than double by 2027. Micron reports fiscal third-quarter results on June 24, with revenue guided to a record $33.5 billion.

Bitcoin Slips Below $66,000 Despite Iran Peace Deal as Traders Eye Trump Reversal Risk

Bitcoin briefly rose above $67,000 before slipping to trade near $65,845, up just 0.3% on the day despite a broad equity rally tied to the U.S.-Iran peace memorandum. The muted crypto reaction contrasts with the S&P 500's 1.7% gain and Nasdaq's 3.1% surge, with traders citing caution over the durability of the deal and the approaching Fed decision as reasons for the divergence.