Micron Technology (Nasdaq: MU) is soaring 7.1%. Samsung has reportedly increased its memory chip prices by up to 60% from recent levels amid an AI-driven supply/demand imbalance.
DoorDash (Nasdaq; DASH) is gaining 6.8%.
Super Micro Computer (Nasdaq: SMCI) is rallying 6.1%.
Bristol-Myers Squibb (NYSE: BMY) is losing 3.5%.
Netflix (Nasdaq: NFLX) remains under pressure despite the broader tech turnaround, falling 3.6%.
UnitedHealth Group (NYSE: UNH) is down 2.8% in today’s session.
In a display of both resilience and volatility, the tech-heavy Nasdaq Composite has turned positive. After declining about 1.5% in early morning trading, the index is now trading in the green, with Big Tech leaders lifting the sector out of the doldrums. Nvidia (Nasdaq: NVDA) is up 1.3%, Microsoft (Nasdaq; MSFT) is gaining 0.65%, Amazon (Nasdaq; AMZN) and Tesla (Nasdaq: TSLA) are up fractionally. Netflix (Nasdaq: NFLX) remains stuck, falling 2.9% in late morning trading. Here’s a look at Nvidia’s game-changing route today:
While there was no CPI report this week, owing to a government shutdown that thwarted the collection of data, economists believe that inflation climbed 0.2% higher last month, according to FactSet, to hover at the 3% rate on a year-over-year basis, still a far cry from the Federal Reserve’s 2% goal.
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Stocks cannot get out of their own way as the tech-driven market sell-off extends into the final trading session of this week. With just about all sectors of the economy trading in the red, all three major stock market indices are spiraling, not least a 1.6% drop in the Nasdaq Composite out of the gate. Meanwhile, the Dow Jones Industrial Average is losing 450 points while the S&P 500 is down by over 1%. Even Bitcoin can’t escape the risk-off climate, with the price of the leading cryptocurrency dipping below the psychologically sensitive $100,000 per coin level.
Among the hardest hit technology stocks, Advanced Micro Devices (Nasdaq: AMD | AMD Price Prediction) is surrendering some of this week’s earlier gains, down 3.5% to below $240 per share. AMD was trading above $260 per share earlier this week.
Dow Jones Industrial Average: 47,055.92 Down 401.30 (-0.85%)
Nasdaq Composite: 22,452.04 Down 413.24 (-1.8%)
S&P 500: 89.14 (-1.3%)
Walmart (NYSE: WMT) is bracing for a change in the C-Suite. The big-box retailer has announced that CEO Doug McMillon, who has been at the helm for over the past decade, will be stepping down in early 2026. He will be replaced by John Furner, who is already chief executive of the U.S. business.
In a bright spot, Wall Street firms are confident that technology leaders will regain their momentum sooner than later. Morgan Stanley has lifted its price target on AI leader Nvidia (Nasdaq: NVDA) by $10 to $220 per share with an “overweight” rating still attached. Oppenheimer analysts are also getting ahead of Nvidia stock before earnings next week, issuing a bullish report on the stock. Baird is bullish on Microsoft (Nasdaq: MSFT), beginning coverage with an “outperform rating and a price target of $600 per share, suggesting upside potential of 20%.
Outside of tech, JPMorgan likes MP Materials (NYSE: MP), reportedly lifting its rating on the earth mining stock to overweight from neutral. The analyst confidence did little to improve sentiment, with MP shares falling by 1.1% today.
ASML Holdings (Nasdaq: ASML) is also losing 3% in the latest tech down cycle.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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