Apple’s WWDC event didn’t seem to excite investors very much, as they were hoping for more updates on the company’s AI efforts.
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Tuesday’s TLDR
- Apple’s WWDC disappointment
- ETH jumps higher
- GME earnings in focus
What’s Happening?
Apple’s WWDC event kicked off yesterday. I remember 10 or 15 years ago, this event was a big deal. For something not tied to jobs, the Fed, or earnings, Apple’s iPhone event (usually in September) and its WWDC event were important.
There was some hype leading up to Apple’s kickoff this year, particularly with its plans for AI — Apple Intelligence. While the company unveiled some cool software items, investors were left wanting more on the AI front. Per Bloomberg:
“Apple Inc. unveiled the most sweeping software redesign in its history, aiming to make the company’s device lineup more cohesive and useful, even while doing little to upgrade its struggling artificial intelligence platform.”
And per Morning Brew: “AI, who? Apple kicked off the conference by admitting Apple Intelligence wasn’t quite up to its high “quality bar” while announcing a new foundation model for developers.”
The stock only fell 1% in reaction to the news, but with its lackluster performance so far this year — it’s the second-worst performing Mag 7 stock in 2025 and over the past year, and the only one below its 50-day or 200-day moving average — and with Apple caught in the crossfire of US-China tariff talks, investors were hoping for something a little more exciting.
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The Setup — ASML
ASML doesn’t seem to get much fanfare here in the US, but talk to any tech analyst based in Europe and ASML is a key talking point. The company builds the machines that are used to make chips that are used for, among others things, AI applications.
However, export restrictions, tariffs, and escalating geopolitical concerns have weighed on orders and investor sentiment. Lately though, the stock has been clawing back from its recent decline, recently climbing back above the 200-day moving average.
Notice how ASML has regained its 200-day, but it’s also finding support along its rising 21-day moving average — a shorter-term measure often used by traders looking for uptrends and downtrends.
More notably though, is the $775 to $780 area.
This zone has been resistance all year, with ASML unable to break through this zone. If the stock can clear this area, it could trigger more upside. That’s particularly true with how well chip stocks have been trading lately, led by Nvidia, Broadcom, and Taiwan Semi.
However, if resistance holds firm, selling pressure could ensue — especially if the overall market loses traction. In this scenario, let’s see if the $735 to $740 area acts as support, which is where the 21-day and 200-day moving averages currently come into play. Below that and $720 will be in focus, which marks the recent lows.
Options
One downside to ASML is its share price. Because the stock price is so high, the options prices are incredibly high, too. This can make it difficult for investors to approach these companies with options.
In that case, many traders may opt to just trade a few shares of the common stock — and that’s fine. However, one alternative is spreads.
Call spreads and put spreads allow traders to take options trades with a much lower premium than buying the calls outright. In these cases, the maximum risk is the premium paid.
Options aren’t for everyone — especially in these scenarios — but spreads make them more accessible. For those looking to learn more about options, consider visiting the eToro Academy.
What Wall Street Is Watching
Yesterday we talked about Bitcoin gaining steam and now we’re seeing some follow-through in Ethereum today. Now hitting multi-month highs, bulls are wondering if ETH can garner more momentum and push through the $3,000 level. Check out ETH and the many crypto options eToro recently added to the platform on the crypto discovery page.
Shares of SoFi traded well last week, rising more than 7%. Now though, the stock is bumping into resistance around $14.50. Bulls are hoping for a breakout, knowing its 2025 highs are above $18. Bears are hoping resistance holds, knowing the stock was recently below $10. What do you think? Check out the chart for SoFi.
GameStop will be in focus this afternoon with the company set to report earnings. Shares erupted higher in late May, climbing 25% in a three-day span as the company acquired over 4,700 Bitcoin. The stock has since retreated a bit, but investors will be watching this one closely as it reports.
Disclaimer:
Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.