Reddit's Chip Bulls Are Running Wild — And WSB Might Actually Be Right This Time

Reddit's investing communities are in full degenerate bull mode this week, and for once the underlying thesis isn't totally unhinged. The Philadelphia Semiconductor Index surged 6.5% to an all-time record, with $INTC leading the charge after President Trump announced Apple would partner with Intel for domestic chip production. High-upvote DD threads are pointing to Goldman Sachs calling a semiconductor super cycle, Japanese execs reporting insane equipment demand, and daily EPS revisions screaming upward — the kind of data that makes WSB feel vindicated.

The macro backdrop is genuinely cooperating. The US-Iran deal reopened the Strait of Hormuz, crude is sliding toward $75/barrel, and Ed Yardeni is out here coining terms like FEMO (fabulous earnings momentum) instead of FOMO. Meanwhile, memory prices are up nearly 10x in eight months, which is crushing $AAPL's margins but making the bull case for chip suppliers essentially impossible to ignore.

The one wet blanket? New Fed Chair Warsh just went full hawk at his first presser — 9 of 18 FOMC members now penciling in a rate hike — but Reddit is doing what Reddit does best: buying first, reading the Fed statement never.