[Aug 12, 2026 US Market Closing] Rally Continues on Record-High Margins and AI Hardware Tailwind... Reddit Added to S&P 500 and SanDisk Surges

Market Summary

On August 13, 2026, the US stock market maintained its overall upward rally, combining companies’ strong margin (profitability) defense capabilities with positive outlooks for AI-themed enterprises. In addition to revenue growth, strengthening fundamentals through cost efficiency demonstrated a qualitative upward trend driving stock price increases.

• 📌 [Major Indices & Exchange Rates]: While the three major indices rose in unison, the tech-heavy NASDAQ index performed notably well, rising by over 1%, and the large-cap-oriented S&P 500 index also gained in response to record-high corporate profit margins.
• 📌 [Macro & Policies]: Amid general expectations of global interest rate cuts and slowing inflation pressure, it was confirmed that US companies are generating record-high margins (profitability) through cost control even in a high-interest-rate environment, easing macro (macroeconomic) uncertainties.
• 📌 [Key Sector Trends]: Along with the long-term growth of the memory semiconductor (NAND flash) market, the explosive demand for servers and data center equipment led to clear strength in companies belonging to the AI hardware value chain, such as Dell and SanDisk.

As a result, the solid fundamentals of US companies were proven once again, leading the US stock market to record an unwavering upward trajectory.

Author’s Opinion & Investment Strategy

While the market is currently enjoying strong upward momentum (the driving force behind stock price rises), beginner investors in particular should carefully examine the hidden risk factors behind the rise and the actual financial strength of companies. A cautious approach that considers valuation (stock price level relative to performance) is needed, rather than indiscriminately chasing tech stocks.

• 💡 [Beware of AI Ecosystem Concentration Risks]: Market analysts assess that the current AI boom has an Achilles’ heel (critical weakness) of relying excessively on the ups and downs of a few key companies like OpenAI and Anthropic, so caution is advised not to over-concentrate portfolios in a single area.
• 💡 [Select High-Margin, High-Quality Companies]: As the core driver of the current US stock market rise is ‘high margins,’ it is recommended to target buying opportunities focused on blue-chip stocks with low debt ratios and high return on equity (ROE) that can generate cash without shaking even during external crises.
• 💡 [How to Utilize Index Inclusion Events]: Stocks that are included in major indices (like the S&P 500), such as Reddit, tend to experience favorable stock price movements due to the inflow of passive funds (funds that mechanically track indices) from institutional investors, so forming a habit of checking these schedules in advance is important.

Properly diversifying investments into blue-chip tech stocks with solid fundamentals and infrastructure companies with proven growth potential is the fastest and safest path to enjoying gains in the US stock market at this time.

Deep Dive of News Channels

① CNBC Markets - Summary

CNBC Markets explained that the rally in the US stock market is not simply due to an increase in corporate sales (revenue), but thanks to record-high margin levels achieved through cost management. On the other hand, Steve Eisman, the legendary ‘Big Short’ investor, expressed concern that the current AI market is extremely tied to the success or failure of just a few representative companies. Additionally, they reported on Iran’s move to join the BRICS New Development Bank and the trend of SpaceX, which surged thanks to a massive short covering (repurchasing shares to cover short positions).

• 🔹 [Rally Driven by Record-High Margins]: Citing FactSet data analysis, they reported that the real driver of the recent sharp rise in stock prices is corporations’ highest-ever net profit margin levels in history.
• 🔹 [Steve Eisman’s AI Boom Warning]: He pointed out that the current powerful AI boom is excessively focused on the performance of a few ultra-large artificial intelligence corporations, presenting downside risks.

• OpenAI: A private tech giant pointed out by Steve Eisman as a core dependency of the AI boom, whose performance and trends exert a major influence on the stock prices of the entire tech sector.
• Anthropic: Along with OpenAI, it is practically generating the current demand for AI infrastructure, drawing intense attention from Wall Street regarding its future success or failure.
• SpaceX: As the short interest ratio plummeted from 34% last week to the 11% level, the stock price rebounded by over 40% from its low through a process of massive short seller exits (short squeeze).
• Micron: As an emerging Chinese memory chip competitor rises as a strong challenger in terms of shipments, the company faces intensifying competition to maintain its dominance in the NAND market going forward.

② MarketWatch - Summary

MarketWatch highlighted the news of social media platform Reddit’s surprise inclusion in the S&P 500 index and the subsequent after-hours stock price surge. It also mentioned the strong momentum of Dell, whose stock price has nearly quadrupled this year alone, continuing its upward trend thanks to Lenovo’s robust earnings announcement. Furthermore, it emphasized the news of Salesforce, which received positive analysis from JPMorgan indicating that AI concerns were exaggeratedly priced into the market.

• 🔹 [Reddit’s Surprise Entry into S&P 500]: After long-standing market rejections and controversies, Reddit finally succeeded in joining the S&P 500 index, driving a strong post-market stock price rally.
• 🔹 [SanDisk’s Unprecedented Long-Term Guidance]: It significantly boosted its stock price by presenting sales growth forecasts on a decade-long scale, alongside confidence in maintaining high profitability.

• Reddit: Following news of its new inclusion in the S&P 500 index, the stock staged a powerful surge in after-hours trading driven by anticipation of large-scale passive fund inflows.
• Dell: Supported by Lenovo’s solid quarterly earnings announcement, long-term growth momentum in the AI server and PC equipment manufacturing sectors was confirmed, continuing its remarkable near-fourfold gain this year.
• Salesforce: The stock gained momentum as investment bank JPMorgan pointed out that market concerns surrounding AI are excessive and analyzed that the stock has an additional upside potential of approximately 29%.
• Sandisk: By confidently announcing long-term revenue growth and robust margin defense capabilities, the company successfully led Wall Street analysts to raise their target prices.

③ Seeking Alpha - Summary

In light of the Q2 2026 earnings season, Seeking Alpha reported on detailed earnings conference calls from various small-and-medium-sized and commodity-related enterprises. Business performances were announced for steel manufacturing giant CSN (Companhia Siderúrgica Nacional), digital infrastructure company Digimarc, and government solution provider WidePoint. Additionally, it included an in-depth commentary on why nuclear energy remains the best practical alternative in the AI era, which must cope with explosive power demands.

• 🔹 [All-Round Q2 Earnings Releases]: Companies across various industry groups disclosed their finalized Q2 2026 results, sharing business performance and future growth roadmaps with the market.
• 🔹 [Emphasizing the Necessity of Nuclear Power]: Amid climate change and the demand to secure electricity for AI, they reaffirmed that nuclear power generation, which offers a stable supply, is practically the optimal clean energy option.

• Companhia Siderúrgica Nacional (SID): Conducted its Q2 2026 earnings call, reporting on global commodity price trends and the solid operational status of its steel business.
• Digimarc Corporation (DMRC): Reported its Q2 earnings in detail, demonstrating its new solution supply status and a robust revenue growth trend.
• WidePoint Corporation (WYY): Through its Q2 2026 earnings conference call, the company transparently disclosed the revenue stream of its mobile communications management solutions in the public and private sectors.
• Lenovo: By delivering positive quarterly profit results, it spread significant warmth across the global hardware manufacturing industry, which acts as both its competitors and partners.

Top 5 Key Companies of the Day

1. Reddit: It finally gained approval for S&P 500 index inclusion in the social media sector, winning full market trust. Immediately after the announcement, its stock price surged in after-hours trading, garnering the highest level of investor attention.
2. Sandisk: The company showed a soaring stock price by disclosing an ultra-long-term revenue guidance that promises a prolonged boom in the NAND flash market and the maintenance of strong high margins over the coming years.
3. Dell: A stock that has surged nearly fourfold this year alone, riding the wave of explosive growth in the AI hardware server market. With Lenovo’s earnings adding fuel, its upward momentum is being sustained.
4. Salesforce: Based on financial sector diagnostics that the market’s fear of falling behind in AI technology competition was overly exaggerated, the stock showed strength, highlighting a high upside potential of approximately 29%.
5. SpaceX: As the massive short interest ratio, which approached 34% of all outstanding shares, plummeted to 11%, a strong buying wave to cover short positions was activated, causing the stock to rebound steeply by over 40% from its bottom.

Source & Disclaimer

• Source: CNBC Markets, MarketWatch, Seeking Alpha
• This content represents a personal opinion and is for reference only.