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Technology 20 June 2026 - 22 June 2026
Getty Images Holdings surged in premarket trading after announcing a multi-year display deal with OpenAI related to ChatGPT, though financial details were not disclosed. Western Digital rose 4.86% as investors bought into memory and storage stocks amid AI-driven storage scarcity, with the company forecasting fiscal Q4 revenue at a $3.65 billion midpoint. Sandisk also climbed, reflecting sector momentum after Apple’s warning about rising memory costs, which is supporting NAND pricing. Nokia shares slipped slightly as the company works through an AI-infrastructure rerating ahead of its Q2 closed window. Intel jumped over 10% after President Trump said Apple plans to collaborate with Intel on U.S. chip design and manufacturing, though details were not confirmed by the companies. Micron gained 8.7% ahead of its June 24 earnings, which are seen as a test for the AI-led chip rally’s earnings support. CoreWeave is set to join the Nasdaq-100, with shares up 17.3% over the last five days. Super Micro rose 10.37% as traders await the impact of a $7 billion equity-linked deal. Amazon gained 2.9% ahead of Prime Day, which will provide insight into consumer demand and Prime activity. Grab outperformed the Nasdaq Composite for the week, rising about 8%. Apple ended the week just under $300, with investors weighing whether higher device prices can maintain margins amid rising costs. Trump’s financial disclosures showed large transactions in Nvidia, Apple, and an S&P 500 index fund, as well as significant family holdings in Trump Media and American Bitcoin. Congressional filings revealed a spouse holding substantial stakes in major tech firms and recent options exercises. Marvell rose 7.27% and is set to join the S&P 500, while ARK Investment Management bought $52 million of Snowflake after the company raised its outlook and announced a major AWS deal. The Nasdaq ended the week up 2.4%, with upcoming reports from Micron and key economic data in focus. Broadcom gained 4.7% but remains below its early June high as investors reassess AI expectations. Goldman Sachs cut smartphone shipment forecasts due to rising memory costs, highlighting the impact of the AI chip crunch. Cerebras Systems rose nearly 10% for the week and will report earnings soon.