One chipmaker is getting a bigger custom silicon spotlight after a major endorsement and stronger long-term revenue targets. One retail platform is turning its summer sales event into a value test for inflation-weary shoppers, while one server company just delivered the earnings reset investors wanted. The clearest calls are in AI infrastructure.
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Futures at a Glance📈
Futures are sliding after another record-setting session, with traders weighing fresh U.S.-Iran noise and a wobble in Alphabet after its big AI funding move. Nvidia and HPE are still keeping the AI trade alive, but the market is starting the day with a little more caution than celebration.
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What to Watch
Earnings (Premarket):
• Dollar General Corporation [DG]
• Donaldson Company, Inc. [DCI]
• Victorias Secret & Co. [VSCO]
• Signet Jewelers Limited [SIG]
• BW LPG Limited [BWLP]
Earnings (Aftermarket):
• Palo Alto Networks, Inc. [PANW]
• Ulta Beauty, Inc. [ULTA]
• GitLab Inc. [GTLB]
Economic Reports:
• Job openings (April): 10:00 am
Fed Speakers:
• Cleveland Fed President Beth Hammack speech: 8:55 am
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Semiconductors
Marvell Technology Just Got a Bigger AI Custom Silicon Spotlight
Marvell Technology Inc (NASDAQ: MRVL) is getting a major premarket lift after Nvidia CEO Jensen Huang called the company the next “trillion-dollar company.” That is not a normal compliment. Shares jumped more than 25% premarket, adding to a monster run that already has the stock up more than 250% over the past year.
The timing matters because Marvell just raised the market’s view of its custom chip opportunity. The company now expects its custom silicon business to exceed $10 billion in revenue by fiscal 2029, helped by cloud providers building AI data centers and looking for specialized chips that reduce reliance on Nvidia processors.
It also lifted its 2028 revenue outlook to about $16.5 billion, up from its prior $15 billion target.
This is the same custom chip lane that has made investors rethink companies like Broadcom.
Marvell also benefits from interconnect technology used to link large processor clusters inside AI data centers, which makes it more than a chip design story. The valuation is no longer cheap at roughly 75x earnings, but the market is paying for a real role in custom AI infrastructure.
My Take For You: Marvell is becoming one of the clearest custom silicon winners outside the obvious AI giants. Huang’s comment adds fuel, but the revenue targets are the real reason the stock deserves attention.
My Verdict: Buy this. The risk is that the stock has already pulled forward too much of the fiscal 2029 custom chip opportunity.
E-Commerce
Amazon.com Is Turning Prime Day Into an Inflation Play
Amazon.com Inc (NASDAQ: AMZN) is bringing back its four-day Prime Day event from June 23 to June 26, and the timing is important. Consumer sentiment just dropped to a record low in May, with high prices, oil costs, and geopolitical uncertainty weighing on household budgets. That makes this year’s Prime Day less about impulse spending and more about value.
Amazon knows that. The company said groceries and household essentials will be a major focus, with deals on food, personal care items, and utility products.
That fits how shoppers have been using Prime Day in recent years. Instead of only buying electronics and gadgets, more households are using discount events to stock up on everyday items like trash bags, dishwasher pods, soap, and groceries.
The bigger business angle is retention. Prime Day helps Amazon defend its $139-a-year Prime membership, push its private-label products, and pull consumers deeper into its ecosystem.
The stock is up about 26% over the past year, trades around 31x earnings, and still sits below its 52-week high. This event will not change the entire thesis by itself, but it can help show whether Amazon’s retail engine remains resilient when consumers are under pressure.
My Take For You: Prime Day is becoming a consumer-stress test. If shoppers show up for essentials and value deals, Amazon gets another proof point that its ecosystem still works in a tougher economy.
My Verdict: Hold this. The risk is that weak consumer sentiment limits discretionary spending and makes the event more defensive than growth-driven.
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AI Infrastructure
Hewlett Packard Enterprise Just Delivered the AI Server Beat Investors Wanted
Hewlett Packard Enterprise Co (NYSE: HPE) delivered its biggest earnings beat since 2018, and the market noticed. Shares jumped more than 27% premarket after the company reported adjusted EPS of $0.79, well above the $0.53 estimate, while revenue came in at $10.68 billion versus expectations for $9.79 billion. Revenue was up 40% year over year.
The standout was servers. Cloud and AI revenue reached $7.71 billion, beating the $6.87 billion estimate, while server revenue hit $5.45 billion, nearly $1 billion above expectations.
Management also raised full-year EPS guidance to $3.35 to $3.45, up from the prior $2.30 to $2.50 range. That is a major reset, especially after CEO Antonio Neri said traditional server bookings are up triple digits and the company has its biggest backlog ever.
The HPE story is different from Dell’s. Dell is leaning heavily into neocloud and hyperscaler AI infrastructure, while HPE is getting traction with national labs and enterprises that want more on-premises AI. Those can be higher-margin opportunities, which matters as memory costs stay elevated into 2027.
My Take For You: HPE just proved its AI server story has real earnings power, not just revenue growth. The guidance reset makes this more than a one-quarter bounce.
My Verdict: Buy this. The risk is that elevated memory costs or slower enterprise AI deployments compress margins before the backlog converts.
Poll: Which market setup gets you most excited to put capital to work?
Movers and Shakers
Generac [GNRC]: Premarket Move: +8%
Generac is moving higher after signing a global supply agreement with a major hyperscale data center operator. The deal puts Generac’s backup power generators directly into the data center buildout, which is exactly where investors want industrial exposure right now.
The stock is already up more than 120% over the past year, but this contract gives the run real support. Data centers need reliable backup power, and Generac just earned a bigger seat at that table.
My Take: Buy the pullback. Generac now has a clearer data center power angle, and that keeps the stock in the right theme.
Lumentum [LITE]: Premarket Move: +7%
Lumentum is climbing as investors keep paying up for optical hardware tied to AI and cloud infrastructure. Cloud and Networking revenue grew 67% year over year, and the stock is still being valued against aggressive growth expectations in optical components, EMLs, and laser shipments.
This is an expensive stock after a massive run, but the demand backdrop still looks strong. AI data centers need faster optical connections, and Lumentum sits right in that lane.
My Take: Stay long, but do not chase. Lumentum is still a winner, but new money should wait for weakness.
Braiin [BRAI]: Premarket Move: -15%
Braiin is giving back gains after a huge run tied to its reported $33.6 billion Switchcraft partnership. The deal sounds massive, but the stock already jumped nearly 80% in a week, so profit-taking was almost guaranteed.
The story is ambitious: embedded utility, broadband, telecom, and household-service switching across residential platforms. But this is still a prove-it setup, not a clean revenue story yet.
My Take: Stay away for now. The headline is big, but the stock ran too far too fast, and the market needs proof the deal turns into real revenue.
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Everything Else
🤖 AI stock rankings are starting to turn heads, as more investors look for data-driven names that score highest on quality, value, catalysts, smart money, and momentum before the bell.
🔥 Euro zone inflation is heating up as energy costs bite again, because oil shocks rarely stay politely contained.
💊 Abivax shares jumped after trial data boosted hopes for its bowel disease drug.
🤖 Microsoft and Google are taking on Anthropic and OpenAI in AI coding, because every tech giant wants the developer workflow now.
📈 Anthropic has reportedly filed confidentially for a U.S. IPO, giving the AI boom another potential Wall Street centerpiece.
🧩 STMicro raised its data-center target on AI demand, because the chip appetite still has not cooled.
That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.
Best Regards,
— Adam Garcia
Elite Trade Club
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