Bullish on RVMD due to strong trial results, momentum, and asymmetric risk-reward in options.
Source Post
The Stock Market Is Reaching Peak Euphoria
StockedUpApr 30, 2026
The stock market, particularly driven by AI and chip stocks like AMD and Intel, has reached new all-time highs. However, recent earnings reports from SanDisk, Western Digital, and Apple showed pullbacks despite beating estimates, raising concerns about the sustainability of the rally. The S&P 500 (SPY) is approaching a key resistance level at 720, with support at 716.50 and 712.50-713.
Linked Mentions
Tickers discussed in this post
Watch NVTS to the upside if it breaks out above $1670.
Mastercard is a short-term sell on a breakdown below $500 after negative earnings, with potential for a pullback to $480 or lower.
Caterpillar is a buy on a $900 breakout, driven by explosive growth in its energy and transportation segment due to AI data center demand.
Apple is pulling back after its earnings report, even with revenue growth and estimate beats, due to iPhone sales falling short.
Western Digital is experiencing a post-earnings pullback, suggesting underlying weakness despite positive estimate beats.
SanDisk is falling after reporting earnings, indicating potential weakness despite beating estimates.
Intel is part of the strong semiconductor rally, but faces similar risks to AMD due to hyperscaler spending trends.
AMD is a key driver of the current market rally, but its future performance is uncertain given the broader semiconductor sector's dependence on hyperscaler spending.