NVIDIA, SpaceX Rise on Earnings Call...SanDisk After-Hours Stock Decline [Wall Street Newsletter]

Summary

Park Myung-suk, curator of the Wall Street Newsletter, analyzes overnight US market action and key earnings. He discusses AI-fueled index records, diverging DRAM vs. NAND memory trends, and individual stock moves in NVIDIA, AMD, SanDisk/Western Digital, SpaceX, and Eli Lilly. The conversation also covers interest rate uncertainty, Iran deal negotiations, and the evolving open-weight AI model shift that could reshape hardware and software demand.

• US stocks hit fresh all-time highs, led by Dow and S&P 500, as AI earnings continue to lift market sentiment despite lingering rate-hike worries.
• DRAM and NAND memory chip fortunes diverge: Micron shows resilience on structural AI memory bottlenecks, while SanDisk/Western Digital sell off on weak NAND pricing and guidance.
• NVIDIA gets a boost from Elon Musk praising its chips during the SpaceX earnings call, while AMD falls as high expectations and a perceived negative frame hurt the stock.
• SpaceX rallies on bullish long-term targets but faces immediate lock-up overhang; strategists see pre-positioning and suggest a buy through year-end.
• Eli Lilly surges on blowout Mounjaro sales, cementing the GLP-1 franchise as a major growth driver.
• Interest rate outlook remains a coin toss between September hike and hold, with Fed officials divided and markets bracing for potential fall volatility.
• AI model battle intensifies between frontier (GPT, Anthropic) and open-weight approaches, potentially shifting investment flows from pure hardware to software beneficiaries.
• Iran nuclear talks and oil price moves remain in focus, but markets are taking a wait-and-see stance with limited immediate impact.