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Israel Englander bought Everpure stock in the first quarter, a lesser-known company poised to benefit as the AI boom creates demand for high-performance storage.
The artificial-intelligence rally looked set to fizzle out on Friday as investors opted to lock in some profit following a session of gains for tech. Nasdaq 100 futures fell 0.4%. Dow Jones Industrial Average futures ticked up 38 points, or 0.1%.
<body><p>STORY: U.S. stocks closed higher on Thursday, with the Dow adding more than a quarter of a percent, the S&P 500 climbing more than eight-tenths of a percent and the tech-heavy Nasdaq gaining 1.3%</p><p>:: Micron Technology</p><p>Chip stocks rallied, sparked by a 4.5% jump in shares of Micron Technology. The memory chip maker laid out plans to invest more than $250 billion in domestic chip manufacturing through 2035 to boost supply amid the AI boom.</p><p>Micron's peers also joined the rally, with Applied Materials climbing more than 3% and SanDisk surging over 7.5%.</p><p>AI-related stocks have been volatile lately as investors worried about the sustainability of a rally that has helped Wall Street reach record levels in 2026.</p><p>Gina Martin Adams is chief market strategist at HB Wealth.</p><p>"Tech has obviously been in the limelight of equity markets for a while, but that worked against stocks in the month of June. We'll see if the month of July brings something different. Obviously, the sector is dealing with a lot of issues, including the upcoming earnings season, where expectations are pretty high, as well as a tremendous amount of new shares coming to the market. First with SpaceX and now with SK Hynix out of South Korea."</p><p>Shares of Meta Platforms rose more than 4.5% after Reuters reported that the company plans to manufacture AI chips starting in September.</p><p>:: PepsiCo</p><p>Elsewhere in the market, shares of PepsiCo fell more than 3% despite the company beating second-quarter revenue estimates. PepsiCo warned of higher commodity costs in the second half of the year at a time when the snack and beverage giant is increasing investments and lowering prices to attract value-conscious consumers.</p><p>And shares of Costco sank more than 4% to a six-month low after the retailer reported decelerating comparable sales for June.</p></body>
The broadening trade was in full effect on Thursday, but that doesn’t mean tech was left behind. The Nasdaq led gains, up 1.3%. The S&P 500 rose 0.8%. The Dow inched up 129 points or 0.3%. But unlike the narrow leadership that dominated previous AI bull market rallies, Big Tech wasn’t the only one pulling its weight.
The stock has been meandering sideways since early May, but the earnings report it will deliver in August may kick off its next run higher.
SanDisk (NASDAQ:SNDK) could see upside in its upcoming fiscal fourth-quarter 2026 report, according to Wedbush Securities, which raised its price target on the stock to $2,000 from $1,200. The semiconductor firm's management had guided fiscal fourth-quarter sales to a range of $7.75 billion...
SK Hynix is set to begin trading on the U.S. market on Friday adding to the mounting memory hype on Wall Street. The South Korean memory chip maker will list its American depositary receipts on the Nasdaq under the ticker “SKHY.” The ADR listing is highly anticipated with some reports signaling it is more than seven times oversubscribed.
Between the continued excitement around chipmakers—as seen in the enthusiasm regarding SK Hynix’s imminent U.S. listing—and the sudden reversal in the tech sector’s fortunes earlier this week, the AI trade is flashing mixed signals.
The artificial intelligence (AI) bull market remains alive and well. These ETFs offer three distinct ways to benefit from it.
Sandisk (NasdaqGS:SNDK) has entered a multi-year NAND flash memory supply agreement with Meta Platforms. The deal names Sandisk as a key supplier for Meta’s planned AI computing infrastructure build-out from 2026 onward. The agreement links a portion of Sandisk’s future NAND demand to one of the largest global technology companies. For investors watching Sandisk, this new agreement with Meta comes after a sharp share price move and sets a fresh reference point for expectations. The stock...
Confirmation of Meta's AI spending plans sank the stock today -- temporarily.
Semiconductor stocks broadly rose on Thursday with memory-chip makers, including Sandisk, among the top performers.
Sandisk just scored a huge contract win with Meta -- reportedly.
By Ragini Mathur and Avinash P July 9 (Reuters) - Wall Street's main indexes advanced on Thursday, as rising chipmakers helped outweigh geopolitical anxiety over renewed attacks that could prolong the
SanDisk is the most direct publicly traded beneficiary of the disclosed arrangement, given that the memo specifically names the company as Meta's flash storage supplier; the stock's move reverses a bruising stretch that had weighed on the NAND-flash sector coming into this week.
Futures Signal Higher Opening for U. S.
Memory and storage stocks are rebounding sharply Thursday morning, reversing a bruising start to the week. Western Digital (NASDAQ:WDC) shares are up 7% to $589 and Seagate Technology (NASDAQ:STX) stock is up 7% to $921 in early trading, while Micron Technology (NASDAQ:MU) shares are up 6% to $1,010 and SanDisk (NASDAQ:SNDK) stock is up 6% ... Western Digital and Seagate Surge 7%, Micron and SanDisk Climb 6% as Memory Selloff Reverses
Micron (MU) just posted the best quarter in company history last month. The stock has fallen anyway.
It might be time for Nvidia to unleash the stock buybacks.
S&P 500 and Nasdaq futures pointed higher Thursday after Trump said Iran reached out, even as U.S.-Iran fighting continued overnight
Investing.com - Global memory monthly sales reached a record $74.6 billion, surging 31.7% month-on-month and running 2.8 percentage points above the 10-year seasonal average, according to UBS's July Memory Monthly report — a data point that has both UBS and Bernstein forecasting sharp contract price increases ahead, even as the two firms diverge sharply on how long the rally can last.