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Micron will give Taiwan workers record bonuses of up to 68 months’ pay, but unions still threaten a strike over profit-sharing demands.
-Reuters
Nvidia sits in 82% of active managers’ portfolios, followed by Broadcom at 78%. Yet, BofA data reveals different hedge fund AI bets.
Seagate Technology ended fiscal 2026 with 34% revenue growth driven by cloud demand and AI adoption, with 90% of exabyte shipments going to data centers. The company expects fiscal 2027 revenue growth to exceed fiscal 2026 levels. Western Digital reported similar strength with 36% fiscal 2026 revenue growth and 44% fourth-quarter growth, primarily from cloud services. Micron Technology is also benefiting from AI-driven demand for memory and storage with record results and strong customer agreements.
Major U.S. stock indexes fell 0.4% as wholesale inflation surged to 5.4% year-over-year and oil prices climbed above $105 per barrel. The inflation data raised Fed rate hike odds to 70% for the September meeting. Rate-sensitive stocks like Nvidia and memory chip makers declined, while Apple gained. Friday's consumer price index will be crucial before the Fed's decision.
NRAM joins the growing memory ETF trade as AI accelerators demand more HBM and memory capacity from chipmakers.