Dell Up 22%, Nvidia Meh, SpaceX Filed: The Week Wall Street Had a Lot to Process
The S&P 500 just posted its longest winning streak since 2023 while the bond market is quietly having an existential crisis
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| DELL Dell Technologies Inc. | buy | $294.90 | — | — | — |
| NVDA NVIDIA CORP | hold | $214.30 | — | — | — |
| IBM INTERNATIONAL BUSINESS MACHINES CORP | buy | $252.12 | — | — | — |
| QCOM QUALCOMM INC/DE | buy | $237.24 | — | — | — |
| INTU INTUIT INC. | sell | $318.50 | — | — | — |
| DKNG DraftKings Inc. | buy | $25.05 | — | — | — |
| DECK DECKERS OUTDOOR CORP | buy | $106.09 | — | — | — |
Let's start with the obvious winner: $DELL went absolutely feral this week, up 22% — with 17% of that coming in a single Friday session after Wells Fargo hiked its price target to $270. Michael Dell added $12.5 billion to his net worth in one day, leapfrogging Jensen Huang to become the seventh richest person on earth. AI server demand is the gift that keeps giving for hardware names, and the street is finally catching up.
Meanwhile, $NVDA posted 85% sales growth, guided to $91 billion next quarter, announced an $80 billion buyback, and the stock... fell 1%. Jensen Huang literally told investors to expect nothing from China H200 sales and the market shrugged at the rest. Classic. SpaceX publicly filed its S1 under ticker SPCX targeting a $2 trillion valuation — the largest IPO in US history — while OpenAI eyes a $1 trillion confidential filing. Fundstrat is already asking if this IPO wave is the 2026 version of 1999.
The macro backdrop? New Fed Chair Kevin Warsh got sworn in, PCE is tracking hot at ~0.4% month-on-month, the 30-year Treasury yield hit its highest in nearly 20 years, and Fed Governor Waller openly floated rate hikes. The bond market is not whispering anymore — it's using a megaphone. $IBM popped 12.4% on a $1 billion quantum computing contract, $QCOM surged 12% on its expanded $STLA Snapdragon deal, and somewhere out there, an Intuit shareholder is having a very bad week. The vibe? Equities partying, bonds throwing bottles.