The S&P and Nasdaq hit a new all-time high for the third time this week, with the chip index rising 5.5%, and Intel soaring 14% in a single day due to its Apple manufacturing agreement.

U.S. stocks are on a record-breaking run, without even catching their breath.

Getting the Apple manufacturing deal is a big deal for Intel—

Currently, Apple’s core manufacturing is almost entirely dependent on TSMC. If Intel can truly break into Apple’s supply chain, it means:

Apple is diversifying supply chain risks (geopolitical considerations)

Intel’s manufacturing technology is finally gaining recognition from top clients

TSMC’s monopoly position is showing cracks

AMD rose 11.4%, Qualcomm up 8%—the entire chip sector is resonating.

The driving force behind this is only one: AI.

Training demands, inference needs, data center expansion—all of these require chips, the more the better.

Crypto concept stocks are rising along with it, and the logic is simple:

U.S. stocks hitting new highs → risk appetite surges → crypto assets, as high-risk assets, benefit simultaneously.

But from another perspective—

This week’s third new high, chip index up 5.5% in a single day—such continuous gains usually have only two possible outcomes in history:

One is continued rise, because there’s so much capital that no one knows where to put it.

The other is a sudden pullback, because the rise was too fast and profit-taking kicks in.

No one knows which will happen now. But remember one rule:

When everyone thinks “it can still go up,” it’s often the closest point to a turning point.

Of course, it might really still go up. After all, those who are bearish on U.S. stocks have been feeling the pressure since 2022, almost unable to hold back the coffin lid. #比特币跌破8万美元 $BOME