The new iPhones: the 18 Pro, and the first folding iPhone at over $2,000. Apple's stock rose 3.5% the day after. The chip inside is TSMC's.

The Grain of Salt: one email every Saturday, everything the tape saw, and a salt meter on every section.

WallStreetBets says Micron to $1,500 is “hardcoded”. The grain-of-salt index says 50 out of 100. The record says +222%.

Getting a tanker through Hormuz: traffic at half of June, tankers at a quarter, and the owners who make it are up 150%.

The Pentagon puts the Iran war bill at $33.4 billion, and says weapons are running short. Oil stays over $100.

The White House bans CNN, MS NOW and Politico. Their reporters were turned away the next morning.

Same gas, nine times the price. Europe's energy problem is gas, and America is selling it.

The Fed raised rates. First hike in three years. Your mortgage is not getting cheaper.

Nike at a new low, down 79% from its peak. The one fashion stock going up is cheap make-up.

Amodei, Altman and Musk call for a slowdown. The chips take it.

Anthropic reportedly plans an IPO at $2 trillion. The cash kept moving.

Target is beating Nvidia this year. Up nearly 60%. Nvidia, 17%.

SpaceX is back where it started: about $150, its opening-day price.

Micron is up almost 200% this year. The AI trade nobody talks about.