June was a steady month for the markets after May’s strong rally 📈
In this recap, we look at how the major indexes performed, how our portfolios compared, which stocks were the biggest winners and weakest performers, and the changes we made during June.
Dive into our full June Recap below 👇
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What Moved the Markets in June?
June was a relatively steady month for the markets following May’s strong rally. On the macro side, investors focused on the conflict between the U.S. and Iran. A temporary ceasefire eased fears of disruptions to global oil supplies, pushing Brent crude back to around $73 per barrel by the end of the month.
Earnings also brought plenty of good news. Hewlett Packard Enterprise reported record demand for its AI servers and its largest server backlog ever. Micron delivered the strongest earnings report of the month, easily beating revenue and earnings expectations. The company also raised its Q4 guidance to $50 billion in revenue and $31 EPS, far above Wall Street estimates. Adobe reported another solid quarter as well, although the stock fell after the company announced that CFO Dan Durn will leave later this year.
The AI and semiconductor sector had another eventful month. Nvidia entered the PC processor market with its new Arm-based N1X chip, which will power laptops from Microsoft, Dell, HP, Lenovo, Asus and MSI. South Korea announced plans to invest more than $1.3 trillion in AI and semiconductors over the next ten years, led by Samsung and SK hynix. SK hynix also confirmed its Nasdaq listing for July 10. BESI increased its 2030 revenue target from €1.5-1.9 billion to €1.7-2.2 billion, and Marvell joined the S&P 500 after Jensen Huang described the company as “the next trillion-dollar company” during Computex.
June was also a big month for IPOs and acquisitions. SpaceX completed the largest IPO ever at a valuation of $1.77 trillion, and quantum computing leader Quantinuum also made its Nasdaq debut at a $17.6 billion valuation.
Several companies announced major acquisitions. Rocket Lab acquired Iridium in an $8 billion deal, creating one of the world’s most integrated space companies. Fox bought Roku, Adyen acquired Orb, AMD acquired Mext and Qualcomm acquired Modular to strengthen their AI capabilities. Qualcomm also introduced its new Dragonfly AI data center platform and announced plans to develop more than 40 AI-powered devices, including smart glasses, watches and earbuds.
Finally, Alphabet replaced Verizon in the Dow Jones Industrial Average, one of the biggest changes to the index in years.
How did the markets perform in June? Let's take a look at how the three major indexes ended the month:
S&P 500: -1.1% 📉 (+9.6% YTD)
Nasdaq: -2.8% 📉 (+12.8% YTD)
Dow Jones: +2.5% 📈 (+8.9% YTD)
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Portfolio Performance: How Did We Do?
How did our portfolios perform in June?
In this update, we compare our performance with the S&P 500, Nasdaq and Dow Jones, highlight our biggest winners and weakest performers, and share the portfolio changes we made during the month.
Curious to see what we bought and sold? Dive into the full recap below 👇
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