Observed Signal · Jun 22, 2026 · Earnings Report · Source: CNBC Investing · Impact: 4/5 · Sentiment: Neutral
Three AI-Related Stocks to Watch Amid Big Options Moves
CNBC’s Options Action highlights three AI-related semiconductor stocks to monitor this week as traders price large post-earnings moves. AI chipmaker Cerebras reports earnings Tuesday — its first since going public — with the stock down roughly 30% from its IPO and options implying an ~11.5% move. Micron reports Wednesday; its implied volatility is extremely high (116), traders expect about a 10% swing and notable call-buying has driven large option-premium flows. Super Micro Computer jumped after unveiling a data-center blueprint using Nvidia architecture and has heavy call activity. The article cites option-volume data from SpotGamma and ThinkOrSwim and notes related activity in the Roundhill Memory ETF and memory-sector names including Sandisk and Western Digital.
Earnings and large options flows in AI chip and memory names signal heightened volatility and market expectations in semiconductor capacity critical to AI infrastructure and investment decisions.
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Key Takeaways & Evidence Grounding
- Cerebras will report earnings after the bell on Tuesday; it is the company's first report since going public last month and the stock is down almost 30% from its first day of trading.
- Options prices for Cerebras imply an approximately 11.5% move after its earnings report.
- Micron reports earnings Wednesday; Micron implied volatility sits at 116, with traders anticipating a roughly 10% earnings swing and the biggest implied move for earnings since December 2024.
- Call premiums accounted for $2.6 billion of $3.3 billion in options traded in Micron, according to SpotGamma; the largest single call trade noted was a $61 million purchase of 800 of the 430-strike Micron calls expiring July 17.
- Super Micro Computer rose ~16% after announcing a data-center blueprint using Nvidia architecture; more than 320,000 calls traded versus about 64,000 puts, with the highest-volume contract the 40-strike call expiring Friday (over 24,000 contracts, per SpotGamma).
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Three stocks rose with AI rally, three fell
CNBC Investing Club’s July 16, 2026 Monthly Meeting update reports a rotation beneath the market surface: three portfolio stocks gained notably while three declined since the June meeting. Cybersecurity names Palo Alto Networks (+25.5%) and CrowdStrike (+21.7%) hit record highs as investors favored firms seen as benefiting from AI-driven security demand. Meta (+20%) rallied after announcements about monetizing AI (including a planned cloud business and new AI products) and reports it will build a custom AI chip; Apple (+10.7%) advanced amid optimism about its AI roadmap and a multiyear partnership with Alphabet. On the downside, Intel (-15%) and Qnity Electronics (-10.5%) pulled back after a broader semiconductor group rotation, and newly independent FedEx Freight (-12.4%) faced post-spinoff selling. The piece notes portfolio trades by Jim Cramer’s team and frames moves as selective investor positioning around AI and defensive rotation.
Cramer: Be Selective in the AI Frenzy
CNBC’s Jim Cramer urged investors to be more discerning amid a broad rush into AI-related semiconductor stocks, praising the sector’s long-term potential but warning against speculative excess. He highlighted Cerebras’s blockbuster IPO — which priced at $185 and opened substantially higher, briefly valuing the company near $100 billion — as an example of frothy market behavior. Cramer said he remains bullish on the AI buildout but recommends favoring established winners such as Nvidia and Cisco, and cited memory and storage names like Micron, Sandisk and Western Digital as reasonable plays if supply shortages and strong AI demand persist. He advised investors to exercise discipline and understand company fundamentals before buying into the rally.
How CNBC played the AI stocks rebound
CNBC Investing Club reports that AI-related stocks rallied after corporate earnings and a weaker-than-expected July jobs report reduced odds of a Fed rate hike. Major indexes logged weekly gains: the Dow and S&P hit records while the Nasdaq advanced materially. The piece attributes part of the recovery to the forced unwind of the highly leveraged hedge fund Situational Awareness, which had pressured AI infrastructure names. Portfolio moves highlighted include adding Corning, Micron and Intel, trimming cybersecurity winners CrowdStrike and Palo Alto Networks, exiting Honeywell Aerospace, and reallocating proceeds into Johnson & Johnson. SpaceX said it will build its AI infrastructure using Nvidia’s Vera Rubin architecture, a comment that notably boosted Nvidia shares during the week.
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