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Technology 20 June 2026 - 21 June 2026
Intel’s stock closed at $133.99 on June 18, up 10.64% before the Juneteenth market closure. President Donald Trump stated that Apple agreed to collaborate with Intel on U.S. chip design and manufacturing, though neither company confirmed details. Marvell’s shares rose 7.27% to $310.58 and the company is set to join the S&P 500, replacing Pool Corp. KeyBanc raised its price target for Marvell, drawing attention to optical networking stocks. ARK Investment Management purchased 223,690 shares of Snowflake, worth about $52 million, after Snowflake raised its outlook and announced a five-year, $6 billion deal with Amazon Web Services. The Nasdaq ended the shortened week up 2.4%, ahead of the S&P 500’s 0.9% gain. Micron is set to report results Wednesday, with May inflation data and the final Q1 GDP estimate due Thursday. Concerns about Strait of Hormuz traffic have resurfaced. Broadcom closed up 4.7% at $411.35, but remains below its early June high as investors question AI expectations. Goldman Sachs cut its 2026 and 2027 smartphone shipment forecasts due to rising memory costs, and Apple’s planned price hikes reflect the AI chip crunch. Micron’s upcoming earnings are seen as a test for the sector. Cerebras Systems ended at $234.71, up 9.85% for the day and about 9.7% for the week, though still below its debut price. Dell closed at $409.50, down 2.34% for the session but up 3.5% since June 12. Applied Digital rose 2.24% to $46.59 and completed a $1.59 billion senior-secured notes sale.