The June Swoon Is Real: Semis Crater, SpaceX IPO Looms, and the Fed Might Actually Hike
From Broadcom's brutal guidance miss to a historic SpaceX IPO filing, this week broke a lot of narratives — and a lot of portfolios
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| AVGO Broadcom Inc. | hold | $385.02 | — | — | — |
| AMD ADVANCED MICRO DEVICES INC | hold | $458.66 | — | — | — |
| MU MICRON TECHNOLOGY INC | hold | $857.20 | — | — | — |
| UNH UNITEDHEALTH GROUP INC | buy | $396.71 | — | — | — |
| GS GOLDMAN SACHS GROUP INC | buy | $1036.88 | — | — | — |
| CMG CHIPOTLE MEXICAN GRILL INC | buy | $29.35 | — | — | — |
| DAL DELTA AIR LINES, INC. | buy | $79.00 | — | — | — |
| CRWD CrowdStrike Holdings, Inc. | hold | $664.99 | — | — | — |
| COIN Coinbase Global, Inc. | sell | $151.60 | — | — | — |
| BTC Grayscale Bitcoin Mini Trust ETF | sell | $62103.00 | — | — | — |
| META Meta Platforms, Inc. | hold | $589.82 | — | — | — |
| GRND Grindr Inc. | buy | $10.89 | — | — | — |
Ed Yardeni called his shot — a 'June Swoon' — and the market delivered. The Nasdaq dropped 4% on Friday alone (its worst single session since April 2025), the Philadelphia Semiconductor Index cratered 9%+, and names like $AMD (-8.8%), $MU (-9%), and $AVGO (-13%) got absolutely flattened. The culprit? A blowout May jobs report — 172,000 nonfarm payrolls, unemployment steady at 4.3% — that markets read as 'the Fed might actually hike.' Core PCE has climbed from 2.6% to 3.3% over 14 months. The rate-cut crowd is having a very bad week.
$AVGO's guidance miss was the week's gut-punch: AI chip revenue forecast of $16 billion vs. analyst consensus of $17.2 billion — not a disaster by any reasonable measure, but when a stock has run 60%+ off March lows, 'not a disaster' doesn't cut it. Meanwhile, SpaceX filed confidentially for an IPO targeting a $1.77 trillion valuation at $135/share — already oversubscribed — which is wild considering the company lost $5 billion last year. Andrei Jikh's YouTube audience is eating this up, noting NASDAQ's new 15-day fast-entry rule essentially forces passive funds to buy in. Your 401(k) didn't get a vote.
The rotation story is real: $UNH and $GS each jumped over 5% as money sprinted from chips to defensives. $CMG popped 4%+ on a JPMorgan upgrade to Overweight with a $35 price target. And $DAL's president went on Bloomberg to remind everyone that premium travelers are shrugging off 10-15% ticket price increases — recession fears apparently don't fly first class. Yardeni still sees S&P 8,000 near-term and 10,000 by year-end. Bold swing. We'll be watching.