[Mar 11, 2026] War Hits the Strait of Hormuz: Oil Spikes as Tech Battles Through Geopolitical Clouds
[Market Close Summary]
Indices:
Dow Jones: 47,417.27 (-0.61%)
S&P 500: 6,775.80 (-0.08%)
Nasdaq: 22,716.13 (+0.08%)
Geopolitical Crisis: Three ships (Thailand, Japan, and Marshall Islands) were hit by projectiles near Iran. Notably, a Thai freighter was attacked by the IRGC in the Strait of Hormuz—the first hit on a civilian trade vessel in this strategic chokepoint since the war began.
Energy: WTI surged over 4% despite the IEA’s plan to release 400 million barrels of reserves. The market remains fearful that reserve releases are only a temporary fix for a blocked Hormuz.
Inflation: February CPI rose 2.5% YoY (0.2% MoM), meeting expectations, but was largely ignored as "stale data" due to the recent war-induced energy spike.
Fed Watch: The probability of a rate hold through June rose to 63.8%.
[Featured Stocks: Tech & AI Infrastructure]
■ Microsoft (MSFT): Xbox 2027 & "Project Helix"
New Hardware: MSFT will provide developers with 2027 Xbox prototypes soon. The device, dubbed "Project Helix," features a custom AMD chip and integrates AI directly into the graphics pipeline for hyper-realistic rendering.
Turnaround: Following a 32% drop in hardware revenue last quarter, MSFT appointed a new AI-focused head of gaming to drive profitability.
■ Oracle (ORCL): TikTok Guardians & Record Backlog
Earnings Recap: Beat EPS ($1.79 vs. $1.70) and Revenue ($17.2B vs. $16.92B). RPO surged 325% to $553B.
TikTok Stake: Oracle confirmed a $2B investment in the TikTok JV, holding a 25% stake and a board seat. Oracle acts as the "security guardian" for all US user data.
■ Micron Technology (MU): The $500 Target
Price Hike: Wolfe Research raised its TP to $500, predicting a 100% surge in DRAM prices for 2026. DDR5 and HBM consumption is expected to jump 143% by 2027.
■ Nebius Group (NBIS): Nvidia’s $2B Bet
Investment: Received a $2 billion investment from Nvidia to build AI infrastructure, aiming for 5GW of power capacity by 2030.
[Consumer, Retail & Mobility]
■ Apple (AAPL): Foldable iPhone Incoming
Fall Launch: Reports suggest Apple will launch a foldable iPhone this fall. It will feature an iPad Mini-sized internal display and a standard small iPhone external screen. A new iOS will support iPad-like multi-window layouts.
■ Uber (UBER) & Zoox: Partnered with Amazon’s Zoox to bring "pedal-less" robotaxis to the Uber app, starting in Las Vegas this summer and LA in 2027.
■ Target (TGT): Cutting prices on 3,000+ items (5–20% range) to attract inflation-weary shoppers.
■ Papa John's (PZZA): Received a $1.5 billion buyout offer ($47/share) from Irth Capital, a 50% premium over recent prices.
[Industrial, Energy & Healthcare]
■ Stryker (SYK): Major Cyberattack
Data Wipe: Systems globally went down following a hack by the pro-Palestinian group "Handala." Reports indicate data was wiped from devices connected to Microsoft Windows systems.
■ Occidental Petroleum (OXY): Sold its OxyChem unit to Warren Buffett’s Berkshire Hathaway for $9.7 billion to aggressively pay down debt.
■ Chevron (CVX): Expanding its footprint in Venezuela, seeking tax incentives for the Ayacucho 8 region.
■ Chubb (CB): Selected as the lead insurer for the US-led $20B program to insure commercial ships passing through the Strait of Hormuz.
[After-Hours Spotlight]
■ UiPath (PATH)
Results: Q4 Revenue of $481M and EPS of $0.30 both beat estimates. ARR grew 11% to $1.85B.
Guidance: Issued FY2027 revenue guidance of $1.75B–$1.76B, slightly above consensus. However, shares dipped 2.67% in extended trading.
