Good afternoon and welcome to Markets Desk.
Micron Technology is closing in on the one thousand dollar per share mark, a level that has traders asking whether a stock split is on the horizon. The chipmaker recently crossed one trillion dollars in market capitalization, and historically that kind of milestone tends to prompt management to make shares more accessible to retail investors. Watch this space.
Shifting to the broader tech landscape, there is a growing backlash against what Silicon Valley is now calling tokenmaxxing — the practice of burning through AI compute tokens at maximum volume in hopes of squeezing out productivity gains. Uber's COO went viral this week after openly questioning whether rising AI costs are actually delivering proportional returns. That skepticism is spreading, and it matters for how markets price AI infrastructure spending going forward.
And on the macro side, strategist Ed Yardeni is making the case that the American economy is best described not as K-shaped but G-shaped — a dynamic in which baby boomers are doing the heavy lifting on consumer spending, while simultaneously transferring wealth downward to younger generations. Yardeni argues this intergenerational flow is one of the most underappreciated drivers of economic resilience right now.
That's the tape. Markets Desk, signing off the floor.
