Following the Personal Consumption Expenditures (PCE) inflation data, market participants closely analyze whether cooling inflation gives the Federal Reserve flexibility to adjust interest rates or if persistent core price pressures signal a "higher-for-longer" rate environment. As broader market rotation accelerates beyond mega-cap tech into cyclical and cash-flow-resilient areas, the top 3 sectors and key stocks to watch moving forward include: 1. Technology & Semiconductors (AI Infrastructure Growth) Despite valuation scrutiny and broader market rotations, information technology continues to lead consensus earnings growth. Easing inflation supports high-growth tech multiples, while massive hyperscaler capital expenditures (capex) in data centers and AI hardware provide long-term rev

The AI boom needs something that doesn’t get nearly as much attention as GPUs: Electricity. Lots of it. $Amazon.com(AMZN)$  just signed a 20-year power agreement with $Constellation Energy Corp(CEG)$  that could help expand the Calvert Cliffs nuclear plant in Maryland. And this isn’t just another corporate electricity contract. Amazon will support more than $3 billion of investment at the facility, including improvements across the existing 1,790 MW plant and approximately 190 MW of additional generating capacity expected to come online between 2030 and 2032.  The agreement covers 690 MW of power, including the new capacity. Why does this matter? Because the biggest bottleneck in the n

$900 a share. A $12.2 trillion valuation. That’s the number Citi is putting on the table for $SpaceX(SPCX)$ if its long-term Starship and space-infrastructure vision plays out. Sounds crazy? Maybe. But the interesting part is what has to happen for SpaceX to get there. Starship’s latest flight marked another important step. The massive rocket reached orbit and deployed 26 Starlink V3 satellites, giving SpaceX another demonstration of how Starship could eventually support a much larger space-based network. And that’s where the valuation story gets bigger than rockets. Citi’s thesis is essentially that SpaceX could become a platform for several huge businesses: 🚀 Reusable launch infrastructure 📡 A much larger Starlink network 🤖 AI infrastructur

Few phenomena in modern equity markets confuse and frustrate investors quite like the post-earnings behavior of Micron Technology ($MU). Picture the scenario: the quarter ends, and Micron delivers a masterclass print. Revenue surges past top-end guidance, adjusted earnings per share blow out Wall Street’s consensus by double-digit percentages, gross margins expand by hundreds of basis points, and management raises forward guidance while declaring its High Bandwidth Memory (HBM) capacity fully booked through the next calendar year. By any traditional metric, it is a triumph—a quarter that in software or mega-cap tech would trigger a double-digit price surge. Yet, as the after-hours tape rolls, the stock barely budges. It ticks up 1%, turns negative, waffles around flat, and settles into a a

$GameStop(GME)$  is back on my radar — and this time, it’s not just because of the meme-stock history. The interesting part is what’s happening behind the ticker. CEO Ryan Cohen just bought another 450,000 GameStop shares for about US$10.6 million on the open market, at an average price around $23.48. That came after additional large purchases earlier in September.  That makes the insider activity hard to ignore. Cohen now beneficially owns roughly 8.8% of GameStop, including warrants.  What makes GME interesting to me isn’t simply “CEO buying = stock goes up.” It’s the size and frequency of the purchases. The market has seen plenty of insider transactions, but repeatedly putting tens of millions of personal capital into the same compan

Everyone is watching Nvidia. Then came the memory trade. Now another part of the AI infrastructure chain is starting to get attention: Networking. $Celestica(CLS)$   — sits in a part of the market that doesn’t get nearly as much attention as GPUs or HBM, but increasingly matters as AI data centres scale. The problem is simple: More AI = more data moving between servers. And eventually, computing power isn’t the only bottleneck. Bandwidth becomes the bottleneck. Fresh analyst coverage is highlighting this exact theme, with networking and optical hardware increasingly viewed as critical infrastructure for next-generation AI systems. Celestica is also being linked to programs involving Alphabet’s custom TPUs, OpenAI’s next-generation ch

Calm Index, Uneasy Market A quiet index session can hide a much less comfortable market underneath. That is my main takeaway heading into tonight: I do not need to choose between being completely bullish and completely bearish. I need to separate the resilience of the large indices from the weakness in broader participation. These are the ideas I am reviewing, not a list of orders I have placed. The contrast between SPY and the S&P futures is worth watching. The futures chart looks more constructive around its moving averages and breakout area, while SPY looks less settled. That gives me a reason not to rush into a bearish conclusion, but it does not erase the softer picture in equal-weight stocks and small caps. I would be more comfortable with an advance that attracts wider participa

[你懂的]  The Tiny Semiconductor Company Hiding Behind the AI Boom Most investors looking at AI are focused on the obvious names — $NVIDIA(NVDA)$, $AMD(AMD)$, $Broadcom(AVGO)$, HBM, GPUs and data centers. But what about the companies working behind the scenes? One name I think is worth watching is $Trio-Tech International(TRT)$. It’s tiny, relatively unknown, and definitely not a typical AI stock. But its latest numbers show something interesting: FY2026 revenue jumped 72% year over year to about $62.6 million, while its semiconductor back-end business nearly doubled to roughly $49 million. So what exactly does TRT do? 🔧 What does Trio-Tech actually sell? TRT operates mainly in semiconductor back-end solutions and industrial electronics. Its semiconductor business provides services

Preview of the week starting 28Sep2026 - Payrolls, PCE and a coin-flip in Sydney Economic Calendar (28Sep2026) Economic calendar for the week (source: Investing.com, via Benson) A genuinely live week: two US prints that can move the rates path, one central-bank decision that is too close to call, and China going quiet for Golden Week from Thursday. 1. The RBA decides — and the market has not made up its mind (Tuesday 29 September, 2:30 pm AEST). The cash rate sits at 4.35%. Pricing is roughly 55/45 between a 25 bp rise to 4.60% and a hold; NAB expects the rise this week, ANZ, CBA and Westpac lean to November. The awkward part: August CPI lands on Wednesday, after the vote, so the board decides with July's 3.5% headline (3.6% trimmed mean) as its freshest read. Whichever way it goes, the st

$AEM SGD(AWX.SI)$  $14 Target Price. --Overview of AEM Holdings (AWX.SI)-- AEM is described as Singapore's largest independent semiconductor test-equipment player, supplying burn-in, wafer test and system-level test (SLT) equipment aimed at AI high-performance chips, and one of the few local firms with in-house equipment R&D capability . The industry logic behind this: as AI chips get larger, pin counts surge and HBM stacking layers increase, single-chip test time lengthens sharply, and high-end test interfaces shift from a "durable device" to a high-frequency consumable. When leading vendors start locking up probe card and test socket capacity at premium prices, it signals the AI hardware bottleneck has m

[微笑]

$Micron Technology(MU)$   is the stock I’d put on the watchlist today because its fiscal Q4 results are due after the U.S. market close on September 30.  What makes this interesting isn’t just the earnings number. MU has become a key test of whether the memory boom can keep accelerating. Micron’s last quarter was exceptional: revenue reached $41.46B, up from $23.86B the previous quarter, while adjusted free cash flow was $18.3B. Its Cloud Memory and Core Data Center businesses also delivered very strong margins.  Now the market wants to know: • Can HBM and data-centre memory demand remain this strong? • Are memory prices still moving higher? • Can margins continue expanding? • What does management say about 2027 supply and demand? •

Why $Micron Technology(MU)$ today? • Earnings are due September 30. • The market is watching whether the memory upcycle can continue at its current pace. • HBM demand remains a key driver as AI infrastructure spending expands. • MU has already had a huge run, so the interesting question isn’t simply “will earnings be good?” — it’s whether the numbers and guidance are good enough to justify the valuation.  The risk: expectations are already high. A strong report doesn’t necessarily mean the stock rises if guidance or margins disappoint. My angle: MU is becoming a test of whether the memory boom has more room to run — or whether expectations have simply moved too far ahead of fundamentals.

# The Index Is Not the Whole Market My focus tonight is the gap between headline strength and participation underneath it. These are observations and plans, not a report of new trades I have executed. An index can look resilient while the average stock is having a much tougher time. That is what makes this market awkward: strength in a handful of large technology names is not necessarily a green light for every bullish setup on the screen. ## Looking underneath the headline I am watching the contrast between the major indexes, equal-weight stocks and smaller companies. The weaker picture in RSP and IWM makes me less comfortable treating a strong index close as broad confirmation. I would rather see more stocks joining the move than rely on the same leaders to keep carrying it. That does no

Very good

Axcelis Technologies is an awkward stock to analyse — which is precisely why I find it interesting. The easy story says Axcelis is a semiconductor-equipment company whose silicon-carbide boom collided with slowing electric-vehicle investment and Chinese overcapacity. Revenue peaked at $1.13 billion in 2023, slipped to $1.02 billion in 2024 and fell again to $839 million in 2025. Trailing twelve-month revenue has recovered slightly to $866 million, but earnings have continued south. That looks suspiciously like a cyclical peak. Yet underneath it, the business mix is changing. Memory is returning, AI infrastructure is creating demand for decidedly unglamorous power-management chips, aftermarket revenue is expanding, and $Axcelis(ACLS)$ is attempting