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   Broadcom’s underwhelming results dragged down the AI complex
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                     Hock Tan, CEO of Broadcom (Ying Tang/Getty Images)
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                      Hey Snackers,
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                      America’s largest
                      <span style="word-break: break-word; text-decoration: line-through;">
                       REIT
                      </span>
                      fast-food chain has a brilliant new strategy: make its stores “
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        easier to run
                       </strong>
                      </a>
                      ” and “
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                       <strong>
                        more enjoyable to visit
                       </strong>
                      </a>
                      .” Also, work on “improving quality.” Genius-level stuff, really. The larger aim behind
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                       <strong>
                        McDonald’s
                       </strong>
                      </a>
                      new global growth strategy, “McDonald’s &gt; NEXT,” is to put the experience of franchisees at the center, which account for over
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        95% of the chain’s global footprint
                       </strong>
                      </a>
                      .
                     </p>
                     <p style="margin:0;margin-bottom:16px">
                      The S&amp;P 500 gained on Thursday while chip stocks
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        dragged down the Nasdaq 100
                       </strong>
                      </a>
                      . Information technology was the worst-performing sector, while healthcare was the best.
                     </p>
                     <p style="margin:0">
                      🧠 Trivia time… Test yourself on music, movies, and more with our
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Snacks Seven Quiz
                       </strong>
                      </a>
                      . Here’s the first question:
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                       Which male solo artist has the most No. 1 hit songs on the Billboard Hot 100 chart?
                       <br/>
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                         Check your answer
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                       .
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                        AVGO, OH NO
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                      <strong>
                       Broadcom’s underwhelming results dragged down the AI complex
                      </strong>
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                     <p style="margin:0">
                      Not a sentence we’ve been used to writing these last few weeks:
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        artificial intelligence stocks dropped
                       </strong>
                      </a>
                      yesterday, dragging the Nasdaq 100 down with them, as
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Broadcom
                       </strong>
                      </a>
                      failed to move up its goalpost for AI chip revenue. The stock was down more than 12% on the day.
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                     <ul start="1" style="margin-top:0;margin-bottom:0;list-style-type:revert">
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       The semiconductor company reported earnings results and gave full-year guidance that were
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         just a smidge above Wall Street expectations
                        </strong>
                       </a>
                       .
                       <strong>
                       </strong>
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       Perhaps more concerning to investors: on a call with analysts, CEO Hock Tan said the company is keeping its AI semiconductor revenue guidance for its fiscal 2027 at “in excess of $100 billion.”
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       That seems to have disappointed investors. However, it’s worth noting that Broadcom came into the print absolutely red-hot; the stock popped earlier this week after one of its biggest customers,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Alphabet
                        </strong>
                       </a>
                       , announced a more than
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         $80 billion equity raise
                        </strong>
                       </a>
                       .
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       The results, along with some additional pressure from
                       <strong>
                        SK Hynix
                       </strong>
                       ,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         especially weighed
                        </strong>
                       </a>
                       on retail favorites
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Micron
                        </strong>
                       </a>
                       and
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Sandisk
                        </strong>
                       </a>
                       , with the former dropping over 7%.
                      </li>
                     </ul>
                    </div>
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                     <p style="margin:0">
                      Broadcom gave back about a month’s worth of gains in early trading before regaining that a bit over the day.
                     </p>
                    </div>
                   </td>
                  </tr>
                 </table>
                </td>
               </tr>
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           </tbody>
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         </td>
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       </tbody>
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                     <span class="tinyMce-placeholder" style="word-break: break-word;">
                      THE TAKEAWAY
                     </span>
                    </h1>
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                     <p style="margin:0">
                      When you arrive at
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        a record six consecutive closes
                       </strong>
                      </a>
                      by way of AI-powered gains, it stands to reason that when AI falters, the wider market does too. The wider AI complex is under some pressure this week.
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        CrowdStrike
                       </strong>
                      </a>
                      — which also came into earnings on a tear — has been given the same treatment by traders overnight,
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        despite beating estimates
                       </strong>
                      </a>
                      and boosting its guidance.
                     </p>
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                       <strong>
                        THE BEST THING WE READ TODAY
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                      <strong>
                       How Victoria’s Secret finally managed to get its sexy back
                      </strong>
                     </a>
                    </h1>
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                     <p style="margin:0">
                      The brand — which was spun off from
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        Bath &amp; Body Works
                       </strong>
                      </a>
                      (then L Brands) in 2021 and made the shocking decision to ditch its iconic angels
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        the same year
                       </strong>
                      </a>
                      — saw comparable-store sales slump for nine straight quarters starting in Q1 2022, but when Hilary Super took the helm as CEO, she
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        changed more than the company’s stock ticker
                       </strong>
                      </a>
                      to pull off a remarkable
                      <a style="text-decoration: underline; color: #5869ff;">
                       <strong>
                        turnaround
                       </strong>
                      </a>
                      .
                     </p>
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                     <strong>
                      Snacks Shots
                     </strong>
                    </h1>
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                       🏀
                       <strong>
                        NBA:
                       </strong>
                       New York’s win on the road has reset expectations about an NBA Finals that forecasters had thought was San Antonio’s to lose. Markets* price New York
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         as a 53% favorite
                        </strong>
                       </a>
                       . The good news for basketball fans is that markets think this series is going to go long, rating
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         a 33% chance it goes to Game 7
                        </strong>
                       </a>
                       , with another 37% chance it goes to Game 6.
                      </li>
                      <li aria-level="1" style="Margin:0 0 8px 0">
                       🎵
                       <strong>
                        Spotify
                       </strong>
                       : It’s been nearly three weeks since Drake dropped his three surprise albums — “Iceman,” “Habibti,” and “Maid of Honour.” Heading into the month,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         prediction markets were rating it a near certainty, a 98% chance
                        </strong>
                       </a>
                       , that Drake’s sonic onslaught was enough to snag the No. 1 slot on
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Spotify
                        </strong>
                       </a>
                       at least once in June. That’s
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         down to 25% after the top spot has evaded the artist
                        </strong>
                       </a>
                       .
                      </li>
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                     <p style="margin:0">
                      *Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.
                     </p>
                    </div>
                   </td>
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                        <strong>
                         Meta
                        </strong>
                       </a>
                       has repeatedly delayed developer access to its new AI model,
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         Muse Spark
                        </strong>
                       </a>
                      </li>
                      <li style="Margin:0 0 8px 0">
                       “
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                        <strong>
                         Sentiment for crypto is firmly in the gutter
                        </strong>
                       </a>
                       ”
                       <strong>
                       </strong>
                       as the sector sinks, with tokens like
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         solana
                        </strong>
                       </a>
                       and
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         dogecoin
                        </strong>
                       </a>
                       hitting multiyear lows
                      </li>
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                        <strong>
                         GM
                        </strong>
                       </a>
                       has reportedly rehired more than 100 former Cruise employees, 18 months after
                       <a style="text-decoration: underline; color: #5869ff;">
                        <strong>
                         shuttering the robotaxi unit
                        </strong>
                       </a>
                      </li>
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                </td>
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                       <strong>
                        ChatGPT hit 1 billion users nearly twice as fast as TikTok did.
                       </strong>
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                      Friday
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                       May jobs report
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