Tech Optimism Is Reaching 1999 Levels — But With A Few Key Differences

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Tech's back at it.

It wasn't that long ago that fears of a Chinese startup's AI advancements channeled a mix of anxieties about overblown tech stocks. Along with a trade war. Several storylines — from reckless AI spending to sky-high valuations — folded neatly into an argument that maybe this was the one step back after the two steps forward over the past couple of years.

But after a bout of plunging stock prices, Big Tech has mounted a comeback and then some. The off-the-charts excitement now that a suite of catalysts — trade war, Iran/Israel, and Fed cut hopes — have been put to the side is palpable.

Right now, as DataTrek's Nicholas Colas puts it, "a bullish call on US large caps therefore requires believing that we can get to 1999-type valuations."

It's a charged date to throw into the mix, invoking the exuberance that led up to the dot-com bubble. But as Colas noted, there are key differences for investors to consider even if stocks are partying like it's 1999. Yahoo Finance reports.

🏦 Trump gets closer to naming his pick to replace Powell as Fed chair: President Trump is getting closer to naming his replacement for Jerome Powell as his patience with the central bank chairman runs out.

Trump told reporters Wednesday that that he is down to three or four candidates, and The Wall Street Journal reported late Wednesday that he could announce his final pick by September or October — or even this summer — to undercut Powell’s authority for the remainder of his term ending in May 2026.

"I know within three or four people who I’m going to pick," the president said Wednesday without offering specific names.

The Wall Street Journal reported that former Fed governor Kevin Warsh and National Economic Council director Kevin Hassett are among the people being considered by Trump, and that Treasury Secretary Scott Bessent has been pitched as well. Yahoo Finance reports.

👩‍🔬 Boston Scientific exceeds analysts' estimates for seven straight quarters: Boston Scientific has kicked off 2025 with impressive momentum, highlighted by strong financial results and strategic partnerships. The company's latest earnings report reveals substantial growth in revenue and profit, fueled by innovative medical devices and expanded market reach.

Notably, revenues exceeded analysts' expectations for the seventh straight quarter. Its Q1 25 results led to the stock rising, prompting analysts to increase their target prices. MarketScreener reports.

🎆 Palantir partners to develop AI software for nuclear construction: Palantir Technologies on Thursday said it was teaming up with a nuclear deployment company to develop an artificial intelligence-driven software system built for the construction of nuclear reactors. Nuclear energy has garnered renewed interest from investors and companies, as it is considered to be a cleaner source of fuel and more reliable than wind or solar energy.

Palantir and Nuclear Company will jointly create the nuclear operating system (NOS), which will simplify construction, allowing the firm to build plants faster and at lower cost.

The deal follows U.S. President Donald Trump's executive orders that aimed to boost U.S. nuclear energy production amid a boom in demand from data centers and AI. MarketScreener reports.

🎢 US stock futures rise as chips gain on Micron results; GDP data ahead: U.S. stock index futures rose on Thursday, signaling indexes were nearing their record peaks, as robust earnings from memory-chip maker Micron fueled optimism around artificial intelligence while investors awaited economic data.

The benchmark S&P 500 and tech-led Nasdaq were nearly 1% below their record peaks at Wednesday's close, supported by the de-escalation in Middle East hostilities.

Chipmakers tracked a 2.7% premarket rise in Micron Technology shares after the company forecast quarterly revenue above estimates, citing growth in demand for its chips used in AI data centers. Yahoo Finance reports.

🚩 Palantir short sellers bail as top S&P 500 stock keeps climbing: Investors betting against Palantir Technologies Inc. are throwing in the towel as the software maker’s shares keep pushing higher, aided by fervent retail traders and heightened geopolitical tensions.

Short interest in Palantir as a percentage of shares available to trade is about 2%, down from a high of 5% in October, according to data from S3 Partners. The stock has rallied nearly 300% over that span, handing short sellers paper losses of roughly $7 billion. Yahoo Finance reports.

👟 Does Nike need to look to the ’90s to make a comeback? Wall Street braces for potentially ‘painful’ earnings, awaits stock to bottom out:

With Nike Inc.’s fourth-quarter results due on Thursday, some analysts say the company’s sluggish sales and stock price should reach the bottom soon — if not now, then in the months ahead — after struggling with competition, squeezed consumers and weaker sneaker demand over the past few years.

However, Nike’s stock is still down 19.5% so far this year. Analysts’ expectations aren’t exactly high. Raymond James analysts predict a “less-bad” quarter, but Jefferies said the results would still be “painful,” and others say the athletic-gear maker has lost some of its relevance. MarketWatch reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $VOR: Vor Biopharma

Total gain: +125.46%

2) $CYN: Cyngn 

Total gain: +65.06%

3) $KWE: KWESST Micro Systems

Total gain: +19.47%

4) $KEQU: Kewaunee Scientific

Total gain: +18.57%

5) $BDMD: Baird Medical Investment

Total gain: +15.06%

The closing price of the top three market percent gainers trading near or above $3 on June 25.
Benzinga reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) $SAFX: XCF Global Capital

Total gain: +32.16%

The company and Continual Renewable Ventures have announced the signing of a non-binding Memorandum of Understanding to launch New Rise Australia, a venture dedicated to developing and commercializing synthetic aviation fuel projects across Australia. Benzinga reports.

2) $QS: QuantumScape

Total gain: +30.83%

The company announced a major milestone in scaling up its production capabilities: the successful integration of its advanced Cobra separator process into baseline cell production. Benzinga reports.

3) $BMBL: Bumble

Total gain: +24.76%

The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


NKE: Nike
4Q 2025

After Market Close
Estimate: 0.120
Actual: N/A

CNXC: Concentrix
2Q 2025

After Market Close
Estimate: 2.750
Actual: N/A

EPAC: Enerpac Tool Group
3Q 2025

After Market Close
Estimate: 0.470
Actual: N/A

Time (ET) / Report / Period

8:30 am - Advanced U.S. trade balance in goods - May

8:30 am - Advanced retail inventories - May

"Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you."

- Larry Hite, Market Wizards by Jack D. Schwager

Sourced in: “Market Wizards: Interviews with Top Traders”, by Jack D. Schwager, published in 1989.