Micron Technology (MU) briefly moved ahead of Meta Platforms (META) and Tesla (TSLA) in market capitalization on Thursday, after a strong outlook from the memory chipmaker extended its rally driven by artificial intelligence demand. Micron’s shares had surged 18.4% at $1,236, giving the company a market value of $1.398 trillion. This compared with Meta’s $1.392
Apple shares fell nearly 5% on Wednesday after the company raised prices of several Mac and iPad models, becoming one of the latest consumer technology companies to pass on soaring memory and storage costs driven by the artificial intelligence boom. The stock was down about 4.89% at the time of writing. The price increases mark
South Korean memory chip giant SK Hynix said on Wednesday that it plans to raise up to $29.4 billion through a US stock market listing, potentially marking the largest American Depositary Receipt offering ever and underscoring investor appetite for artificial intelligence-linked stocks. If completed at the upper end of the proposed range, the offering would
Wall Street indices opened higher on Wednesday as investors rotated back into beaten-down technology stocks and positioned ahead of key earnings from Micron Technology. The positive start follows two straight sessions of losses driven by concerns over AI-related spending and interest rates. The Dow Jones Industrial Average was up 67 points. While the S&P 500
The Roundhill Memory ETF (DRAM) stock price dropped sharply this week as investors waited for the financial results of one of its biggest constituent companies. It also reacted to a new report about SK Hynix, the second-biggest company in South Korea. It was trading at $70 on Wednesday, a few points above this week’s low
Zeta Global stock price jumped on Tuesday after the company intensified its pivot towards artificial intelligence (AI) by partnering with Palantir Technologies. It jumped to $20.50, and then pared back some of those gains to close at $19.50. So, will this partnership boost ZETA shares in the near future? Zeta Global inks key partnership with
Wendy’s shares WEN surged more than 30% in early trading on Wednesday as retail investors piled into the fast-food chain, overshadowing the company’s latest executive appointment and reviving memories of the meme-stock frenzy. The rally came after Wendy’s announced the appointment of former Potbelly executive Steven Cirulis as chief financial officer and chief strategy officer.
Shares of IBM climbed nearly 5% in premarket trading on Tuesday after JPMorgan upgraded the technology company, citing increasing confidence in its software business and potential benefits from growing artificial intelligence adoption. JPMorgan analyst Brian Essex upgraded IBM to Overweight from Neutral and raised his price target to $291 from $270. The analyst said expectations
Meta Platforms is facing fresh regulatory pressure in Europe as the European Union prepares to escalate its investigation into whether Facebook and Instagram use design features that are addictive to children. The developments place Meta at the centre of two major stories at once. In Europe, the company is facing closer scrutiny over the impact
US stocks opened lower on Tuesday as a technology-led selloff accelerated, with semiconductor and artificial intelligence-related stocks coming under renewed pressure. The Dow Jones Industrial Average fell 326 points. The Nasdaq Composite dropped 2.2% while the S&P 500 was down 1.5%. The weakness followed Monday’s session, when the Nasdaq Composite fell 1.3%, weighed heavily by