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Macro US Stocks

Nasdaq opens up 0.4%, semiconductor index gains 2.3%

The Nasdaq opened 0.4% higher and the semiconductor index rose 2.3% in early US trading. Apple fell 3.5% despite beating revenue and earnings estimates, as high memory costs narrowed gross margins and services growth slowed. Palantir dropped 6.5%, while SanDisk rose 3.5%, AMD 2.2%, Nebius Group 2.1% and Micron 2.9%.

Original source

AI take

The divergence between a surging semiconductor index and Apple's slide despite a beat points to margin pressure from memory costs as the more telling signal than headline growth. Chip names tied to memory and AI infrastructure are drawing the bid, while a mega-cap hardware bellwether is being marked down on cost and services softness — a rotation within tech rather than a broad risk-on move. Whether memory-cost pressure keeps compressing hardware margins, and whether chip strength broadens beyond the memory-linked names, is the open question.

Generated by AI for reference only.

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