The second quarter of the year started with arguably the most volatile macro situation since 2020. Brent crude has surged to $141 per barrel, with supply disruptions in the Middle East threatening to prolong the shocks. Inflation risks are reaccelerating, growth expectations are softening, and recession probabilities are climbing.
Yet AI-linked equities are rallying sharply. Alphabet Inc. (NASDAQ:GOOG) rose 8.54%, according to Benzinga Pro, while Broadcom Inc. (NASDAQ:AVGO) gained around 12%. Automated systems leader Teradyne, Inc. (NASDAQ:TER) surged 28.8% on an upgrade to Outperform from Baird.
Memory stocks also did well. SanDisk Corporation (NASDAQ:SNDK) is up 20% month to date. Micron Technology, Inc. (NASDAQ:MU) is up around 16.5%, while Western Digital Corporation (NASDAQ:WDC) climbed approximately 20.7%.
Communication component manufacturer Lumentum Holdings Inc. (NASDAQ:LITE) is …
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