Tomorrow's Megacap Print Could Reset the Whole AI Trade

Mega-cap tech got drubbed Monday. One of the Magnificent Seven held the line. A massive memory print lands in the next 48 hours, and one connectivity name is getting designed into the largest GPU clusters on the planet, with the cleanest read coming on the next earnings call.

June 23, 2026

Alphabet dragged the Nasdaq lower on Monday. Apple closed green. That kind of split usually marks a sector inflection.

Tomorrow night, Micron reports fiscal Q3 with $33.5 billion in revenue expected. That number, plus NVIDIA's annual shareholder meeting, sets up a 48-hour window that could either confirm the AI trade or crack it open for fresh entries.

Here's what we're watching, and where the real opportunity sits.

Tax Strategy (Sponsored)

Capital gains taxes can take a bigger bite out of your profits than expected.

Fortunately, some deductions may help reduce the impact — including:

  • Investment-related expenses

  • Cost basis adjustments

  • Certain real estate selling costs

Because rules and eligibility vary, many investors turn to fiduciary financial advisors for guidance.

Never Miss Our Top Tech Recommendations Again!

We now send our tech picks via text, too, so you’ll get the same tech breakout news without having to open your inbox.

Data Centers

Supermicro Wants To Build AI Factories At Massive Scale

Super Micro Computer (NASDAQ: SMCI) has unveiled a new high-performance computing blueprint built around Nvidia's upcoming Vera Rubin platform, giving customers a roadmap for building some of the world's most powerful AI and research clusters.

The design combines hundreds of Nvidia CPUs and more than a thousand Rubin GPUs into a single scalable unit that can be expanded dramatically as demand grows.

While the numbers are massive, the goal is straightforward: help organizations deploy AI infrastructure faster without having to design everything from scratch.

Data Centers Are Becoming AI Factories

Training advanced AI models now requires enormous amounts of computing power, electricity, networking, and cooling.

Supermicro's latest blueprint focuses heavily on liquid cooling technology, a system that removes heat more efficiently than traditional air cooling.

As AI hardware becomes more powerful, keeping thousands of chips running at full speed without overheating is becoming one of the industry's biggest engineering challenges.

Nvidia's Next Platform Is Already Driving Demand

The announcement also shows how quickly companies are preparing for Nvidia's next-generation AI hardware.

Instead of waiting for the chips to arrive, infrastructure providers are already designing complete data center architectures around them.

Supermicro is positioning itself as one of the companies that can help customers move from AI plans to operational systems as quickly as possible.

Consumer Technology

Amazon Brings Alexa+ Closer To One Of The World’s Biggest AI Markets 

Amazon (NASDAQ: AMZN) is preparing to bring Alexa+ to India, opening beta testing for a Hindi-language version of its next-generation AI assistant.

The move marks another major expansion for Alexa+, which has gradually rolled out across several international markets after its U.S. launch.

India presents a unique opportunity because of its massive Hindi-speaking population and the growing adoption of AI-powered services.

For Amazon, this is not simply a language update. It is an effort to make conversational AI work naturally for one of the world's largest digital audiences.

Voice AI Gets More Local

Building AI assistants for global markets requires more than translation. People switch between languages, use regional expressions, and often mix English with local languages in the same conversation.

India has become one of the most important testing grounds for companies trying to make voice AI feel more human and useful in everyday life.

Amazon has already spent years expanding Alexa's language capabilities. Alexa+ takes that further by adding generative AI features that allow more natural conversations and broader task completion.

Competition For AI Assistants Is Heating Up

Every major technology company is racing to make AI assistants a bigger part of daily computing.

Google, Microsoft, OpenAI, and Amazon are all competing to become the primary interface people use to access information and complete tasks.

Success will depend on how well these assistants understand local context, languages, and user behavior.

Amazon built Alexa during the smart speaker era. Alexa+ is its attempt to stay relevant in the age of generative AI.

Standout Picks Now (Sponsored)

Every market cycle produces a handful of companies that dramatically outperform the rest.

Our latest screening has identified the 5 Stocks Set to Double — companies showing rare early-stage momentum traits.

These picks carry the same indicators that historically precede strong rallies.

Past reports highlighted stocks that surged +175%, +498%, and +673%.

Get the Free 5 Stocks Set to Double Report.

*This free resource is being sent by Zacks. We identify investment resources you may choose to use in making your own decisions. Use of this resource is subject to the Zacks Terms of Service.
*Past performance is no guarantee of future results. Investing involves risk. This material does not constitute investment, legal, accounting, or tax advice. Zacks Investment Research is not a licensed dealer, broker, or investment adviser.

Enterprise Software

Oracle Brings AI Directly Into Hotel Operations 

Oracle (NYSE: ORCL) is expanding its industry-specific AI strategy with the launch of OPERA Cloud Assistant, a new toolkit designed to automate hotel operations, guest communications, and revenue management tasks.

Rather than focusing on generic AI chatbots, Oracle is targeting the day-to-day work that happens behind the scenes at hotels.

The platform can help automate tasks such as room management, content creation, guest interactions, and operational workflows that traditionally require significant manual effort.

Hospitality Software Gets Smarter

At the same time, Loews Hotels has gone live with a major integration built around Oracle's OPERA Cloud platform.

The deployment supports more than a million guest interactions every month and uses OPERA Cloud as the central system for managing guest information and operational data.

The project highlights a broader trend happening across enterprise technology. Companies increasingly want AI connected directly to business systems rather than operating as a separate tool.

Industry AI Becomes The Next Battleground

Technology companies are racing to move beyond general-purpose AI and into specialized business software.

Healthcare, manufacturing, finance, retail, and hospitality are all becoming targets for industry-focused AI products.

Oracle's approach is to embed AI into the software businesses already use, rather than asking customers to adopt entirely new platforms.

The next phase of enterprise AI may not be about building bigger models. It may be about quietly transforming how entire industries operate behind the scenes.

Trivia: In 2018, Spotify used a direct listing rather than a traditional IPO. What was the NYSE reference price for the listing?

Login or Subscribe to participate in polls.

Recent Tech Movers

Hewlett Packard Enterprise (NYSE: HPE)

Year-to-Date Move: +100%

HPE has gone from a sleepy server vendor to a legitimate AI infrastructure name, and the market is finally catching up. The Juniper deal closed earlier this year, and AI server orders have been the consistent surprise driver across the last two prints.

With forward P/E sitting around 14x and EPS growth projected near 80%, this is one of the cheaper ways to play the AI buildout without paying NVDA multiples. Next earnings should bring updated backlog commentary, which has been the real catalyst.

Key takeaway: This isn't done yet, but the easy money is behind you. A pullback toward the 50-day moving average would be a cleaner add point than chasing here.

Risk: Server gross margins remain thin. Any hyperscaler capex pause hits HPE harder than the picks-and-shovels chip names.

Snowflake (NYSE: SNOW)

1-Month Move: +32%

Snowflake went nowhere for five months while everything AI ripped higher, and the market finally noticed the disconnect.

Revenue grew 30% year-over-year last quarter to $1.28 billion, remaining performance obligations jumped 42%, and over 9,100 accounts are now using Snowflake's AI features.

The catalyst is agentic AI: enterprises need a unified data layer to feed their AI workflows, and Snowflake is positioning itself as that layer. The stock is still barely positive on the year.

Key takeaway: This is the kind of setup where you're not chasing. You're catching a name that underperformed its fundamentals and is just now starting to reprice. Build a position here with room to add on any consolidation.

Risk: Snowflake is still GAAP unprofitable, and consumption-based revenue can decelerate quickly if enterprise AI spending pauses. Valuation on a price-to-sales basis isn't cheap either.

Okta (NASDAQ: OKTA)

1-Month Move: +26%

The identity trade is quietly becoming the AI security trade, and Okta is catching a bid because of it. Every AI agent a company deploys needs identity verification and access controls, and Okta is the only independent platform built to handle that at enterprise scale.

Revenue hit $2.9 billion in FY26, growing 12%, and the company flipped to GAAP operating profitability for the first time. That's the inflection Wall Street had been waiting for.

Key takeaway: This is early innings on a new product cycle. AI agent adoption is accelerating, and Okta's positioning as the identity layer for both humans and machines gives it a durable growth vector.

The stock has room to re-rate higher if Q1 confirms the momentum.

Risk: 12% revenue growth is modest for a software name at this valuation. If AI agent adoption takes longer than expected, the multiple expansion stalls and you're holding a mid-growth SaaS name at a premium.

Risk Signal (Sponsored)

Whitney Tilson shocked the nation on 60 Minutes when he accused a major company of poisoning its customers.

The investigation won an Emmy and the stock fell nearly 80%.

(He also called the housing crisis and the collapse of Bear Stearns and Lehman Brothers).

Now, he's releasing his next big story.

He says a dangerous pattern is forming, and most Americans have no idea how exposed they really are.

For the full presentation, go here.

Speculative Tech Play

Credo Technology Group, The AI Connectivity Name Hyperscalers Are Designing Around

Why It's on Our Radar

Credo (NASDAQ: CRDO) sells high-speed connectivity solutions, primarily Active Electrical Cables (AECs) and DSPs, into hyperscaler AI infrastructure. The pitch is simple.

As AI clusters scale beyond 100,000 GPUs, copper interconnect economics break down, and Credo's AEC technology becomes the practical fix. That's not theoretical. It's what Amazon, Microsoft, and Meta are designing around right now.

The Customer Concentration Setup

CRDO has historically leaned on a single mega-customer for the bulk of revenue, meaning if that one hyperscaler trims orders, the top line takes a direct hit.

The bull case is that customer base broadens through 2026 as a second and third hyperscaler ramp meaningful AEC volume.

Management has telegraphed this on calls, and the early order data supports it. If diversification materializes, the multiple expansion alone could drive a meaningful re-rate. 

The Forward Catalyst You Want

Next earnings should deliver the cleanest read yet on customer two and customer three contribution. The window for entry is right now, before that print confirms the diversification story and consensus revisions follow.

Combine that with the broader AI optical and connectivity tailwind, and you've got a setup where the asymmetric outcome favors the long.

Key takeaway: Build a position in two tranches ahead of next earnings. This is a higher-risk, higher-reward name. Size it accordingly, no more than 2-3% of your tech sleeve.

Risk: Customer concentration cuts both ways. If the lead hyperscaler delays AEC orders for even one quarter, the stock takes a 20%+ haircut before the diversification story has a chance to play out. Speculative for a reason.

Everything Else

  • 💎 Seven buy-and-hold-forever stocks with rock-solid balance sheets are named in a free report, including one with 61 straight years.

  • 💬 Meta is shaking up WhatsApp leadership as Kunal Shah steps in and Will Cathcart moves out of the top role.

  • 🏗️ SpaceX’s AI ambitions are getting tied to a massive Colossus-style data center project, adding another layer to the infrastructure race.

  • 🧾 Oracle’s workforce has shrunk by about 13%, showing how the company is still tightening while chasing AI growth.

  • ⚛️ Trump signed orders targeting a powerful quantum computer by 2028, putting more federal muscle behind the quantum push.

That's our coverage for today; thanks for reading! Reply to this email with feedback or any tech stocks you want me to check out.

Best Regards,
—Noah Zelvis
Tech Stock Insider