US Opening Bell | Stocks open higher; Micron Technology surges 19%; Chip stocks rally

Market

June 25, U.S. stocks opened broadly higher as enthusiasm around next-generation memory chips lifted sentiment. The Dow Jones added 0.52%, the S&P 500 advanced 0.55% and the Nasdaq Composite gained 0.56%, with all three benchmarks shrugging off mixed global headlines.

Micron Technology jumps 18.9% after blowout results, followed by BlackBerry up 15.9% on renewed meme-stock momentum. Qualcomm rallies 9.5% on fresh AI-chip supply deals, Western Digital climbs 9.1% amid NAND spin-off optimism, Intel rises 6.6% on a new process roadmap and Advanced Micro Devices gains 5.0% ahead of an accelerator launch. On the downside, Trip.com Group Limited falls 16.6% on China travel curbs, Palantir Technologies Inc. slips 4.1% after a key government contract delay, Alphabet eases 2.5% on antitrust worries, and Microsoft sheds 1.7% as regulators widen a Teams probe.

Among thematic movers, Direxion Daily Semiconductors Bull 3x Shares soars 16.6%, Roundhill Memory ETF adds 13.2%, Silicon Motion Technology climbs 7.4%, Taiwan Semiconductor Manufacturing advances 2.3% and Broadcom gains 1.3%, underscoring a strong rotation into high-bandwidth memory and AI infrastructure names.

News

Micron Technology surges 18.9%. The company smashed earnings expectations and issued upbeat guidance, citing record demand for high-bandwidth memory used in AI servers. Analysts flagged expanding margins as a key upside driver.

Western Digital jumps 9.1%. Management said it is in advanced talks to finalise a NAND merger with Kioxia, raising hopes for a more focused pure-play HDD business and stronger pricing power.

Qualcomm rallies 9.5%. Industry sources reported the firm won a major design win to supply custom AI chips to several leading social-media platforms, reinforcing confidence in its diversification strategy.

Intel climbs 6.6%. At an investor event the company unveiled a 1.8-nm process roadmap and confirmed it remains on track to overtake foundry peers in transistor density by 2027, easing process-node concerns.

Advanced Micro Devices gains 5.0%. Multiple brokerages raised price targets after channel checks pointed to robust pre-orders for the forthcoming MI400 series AI accelerator.

Trip.com Group Limited plunges 16.6%. A draft rule by Chinese regulators to tighten oversight of outbound tours sparked fears of softer international booking volumes for the ADR.

Alibaba declines 3.2%. The SEC requested additional documents related to the company’s cloud services security controls, extending uncertainty around a potential U.S. listing of the unit.

Palantir Technologies Inc. falls 4.1%. The Department of Defense delayed a decision on the renewal of the Gotham data-analytics contract, raising short-term revenue visibility questions.

BlackBerry leaps 15.9%. The cybersecurity specialist issued preliminary results showing a surprise operating profit and said it is exploring strategic options for its IoT division, triggering a short squeeze.

Microsoft slips 1.7%. European regulators signalled plans to broaden an antitrust probe into the bundling of Teams with Office 365, heightening regulatory headwinds for the software giant.