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SK Hynix Market Cap Hits $1.35B Trillion, Overtakes Samsung — First Change in Korea's Top Spot Since 2000

SK Hynix shares jumped 5.7% to push its market capitalization to roughly $1.35 trillion, briefly overtaking Samsung Electronics as South Korea's most valuable company for the first time in 26 years. The milestone reflects SK Hynix's dominant 61% share of the high-bandwidth memory market that supplies Nvidia's AI accelerators, with shares up more than 340% year-to-date. The move reinforces bullish sentiment toward US memory peer Micron Technology and AI infrastructure names.

Nasdaq-100 Adds CoreWeave, Astera Labs, Rocket Lab in First Rank-Based Rebalance — Drops Zscaler, Cognizant, Charter

The Nasdaq-100 added Astera Labs, CoreWeave, Nebius Group, Rocket Lab, and Teradyne while removing Charter Communications, Cognizant, Insmed, Verisk Analytics, and Zscaler, effective at today's open. It marks the first rebalance under Nasdaq's new rank-based quarterly methodology adopted in May 2026, tilting the index further toward AI infrastructure. The S&P 500 made a separate two-stock swap the same day, triggering forced buying and selling from index funds tracking roughly $800 billion in assets.

Oil Falls 0.7% to $75.30 as US and Iran Reach Burgenstock Roadmap — 60-Day Window Set for Final Peace Deal

West Texas Intermediate crude slipped 0.7% to $75.30 a barrel after US and Iranian negotiators concluded talks in Switzerland with a roadmap toward a final peace deal within 60 days. The agreement includes a communication mechanism to keep the Strait of Hormuz open and a plan to end fighting in Lebanon, though mediators cautioned significant work remains. Energy and airline stocks are positioned as the most direct beneficiaries if the de-escalation holds through the negotiating window.

SpaceX Breakthrough: Lands in Millions of 401(k)s via Index Funds, Paving Way for AI Tech

SpaceX's inclusion in 401(k)s through index funds opens the door for similar tech inclusions, potentially boosting AI sector stocks like OpenAI and Anthropic.

US Iran Ceasefire Agreement Halts Gulf Attacks; Oil Prices Drop 3.2% as Hormuz Shipping Resumes

The United States and Iran agreed to immediately halt tit-for-tat military strikes in the Gulf region following weekend clashes over the Strait of Hormuz. Oil futures plunged more than 3% on the news as shipping lanes reopened and technical talks are scheduled to resume in Doha this week. The de-escalation eases immediate supply disruption fears for global energy markets and supports risk assets.

AeroVironment AVAV Q4 2026 Revenue Beats Estimates by 8%; Defense Backlog Hits Record $1.2B

AeroVironment reported fiscal Q4 2026 revenue that exceeded analyst expectations by roughly 8%, driven by strong demand for unmanned aerial systems. The company highlighted a record funded backlog of $1.2 billion entering the new fiscal year, bolstered by defense contracts amid global tensions. Guidance for full-year fiscal 2027 points to continued double-digit growth in key segments.

Alphabet Replaces Verizon in Dow Jones Industrial Average June 29 — GOOGL's $345 Share Price Gives It Seven Times Verizon's Index Influence as DIA Rebalancing Begins

Alphabet's Class A shares will replace Verizon Communications in the Dow Jones Industrial Average before Monday's open on June 29, with today marking the day S&P Dow Jones Indices publishes the updated Dow divisor used in end-of-day index calculations. At approximately $345 versus Verizon's $46, Alphabet carries roughly seven times more price-weighted index influence than Verizon's 0.5% contribution. DIA ETF holders must execute mechanical buys of GOOGL and sells of VZ before Monday's bell. Alphabet enters the Dow approximately 10% below its recent highs.

Micron Technology Posts Record $41.46B Q3 FY2026 Revenue, Up 346% YoY — $50B Q4 Guidance and $100B in Take-or-Pay Customer Contracts Redefine AI Memory Cycle

Micron Technology reported fiscal Q3 2026 revenue of $41.46 billion, up 346% year-over-year, beating the $35.84 billion consensus by 16%, while adjusted EPS of $25.11 topped expectations by 24%. The chipmaker secured 16 take-or-pay customer agreements covering roughly $100 billion in minimum contracted revenue through 2030, structurally repositioning the memory cycle. Q4 guidance calls for $50 billion in revenue and EPS of $31, approximately $6.4 billion above analyst estimates. Shares rose 17% in trading.

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.