SpaceX IPO Is Oversubscribed and AVGO Just Nuked the Chip Rally — Here's Who's Left Standing

Let's set the scene: 172,000 jobs get added in May, beats every single analyst estimate, and Wall Street immediately panics. The Nasdaq fell 4% — its worst single day in over a year — the Philadelphia Semiconductor Index cratered 9%+, and the 10-year yield jumped to 4.5% as Fed rate hike chatter went from meme to mainstream. Ed Yardeni called it his 'June Swoon.' Bloomberg's Edward Harrison said the Fed may hike before it cuts. Even Goldman's John Flood — a bull — admitted it was a 'sobering' session while still calling it a buying opportunity en route to S&P 8,000.

$AVGO was the villain of the week, sliding ~14% after its AI chip revenue forecast underwhelmed a crowd that had set an impossibly high bar. For context: AI revenue was still up 143% and forward guidance points to 200%+ growth — but a quarterly revenue guide of $16B vs. the $17B the street wanted was enough to spark a sector-wide tantrum. Meanwhile, $COIN had an even rougher ride — down 19% on the week and 33% year-to-date — with a Wall Street bear adding a fresh short thesis just to twist the knife. Reddit's crypto corners are screaming 'buy the dip' but the institutional money is clearly walking the other way.

The only thing nobody could stop talking about? SpaceX — oversubscribed IPO, $75 billion raise, $1.77 trillion valuation, pricing June 11th, and somehow still the most wanted guest at a party where everything else is on fire.