US stocks open higher; SpaceX gains 3.3% on spectrum deal, Apple falls 2.7%

The SpaceX move is the more structurally interesting one: a launch company buying nationwide low-band spectrum signals vertical integration into connectivity, not just rockets, which puts it closer to telecom and satellite-broadband incumbents. Apple's cut, by contrast, reads as a demand signal for premium handsets rather than a supply story. The rotation into optical communications and memory chips alongside these moves suggests capital is pricing connectivity and AI infrastructure over consumer hardware. Whether that split persists is the open question.