// COMPARE

Meta slipped 1.2% to $609.63 as broader tech rotation favored hardware/semis over software/advertising names. Still 23% off its high.

Meta's $3.3B EU fine and ongoing Reality Labs losses are headwinds. The market is rewarding AI infrastructure plays over AI application plays this cycle.

$600 is the psychological floor. Trump's landmark social media regulation could create additional regulatory overhang if it advances.

S&P closed at 7,398.9, within 3 points of its all-time high. Tech and semis led the charge as AI capex optimism overrode Iran headlines.

The market is pricing peak earnings growth — AI spending is accelerating faster than even bulls expected. Breadth is narrowing though, which historically precedes corrections.

Intraday ATH test at 7,401.5 is imminent. Clean break targets 7,500. CPI miss Tuesday could trigger the breakout; hot CPI kills it.