US Opening Bell | Stocks open higher; Micron Technology, Western Digital surge; Chip stocks rally

Market

July 21, U.S. stocks opened broadly higher as enthusiasm for the semiconductor cycle lifted the major benchmarks. The Dow Jones gained 0.46%, the S&P 500 added 0.52% and the tech-heavy Nasdaq Composite outperformed with a 0.88% pop, pointing to a risk-on tone after upbeat chip earnings and easing macro worries.

Western Digital jumps 9.44% on reports of fresh NAND price increases, while Micron Technology rallies 7.79% after issuing a stronger-than-expected revenue outlook. Intel climbs 7.24% as it announces volume shipments of its next-gen “Falcon Shores” accelerators, and Marvell Technology adds 6.99% on new AI networking orders. Advanced Micro Devices rises 4.93% after a large cloud customer adopted its MI325X GPUs, NVIDIA edges up 2.15% on a new AI system launch and Tesla Motors gains 1.17% after confirming Cybertruck production targets. On the downside, Microsoft falls 1.45% amid news of an EU antitrust probe, while Apple slips 0.84% as suppliers signal softer iPhone unit guidance.

Broader chip momentum sees Direxion Daily Semiconductors Bull 3x Shares surge 14.71%, Roundhill Memory ETF rise 7.86% and SK hynix ADR advance 7.50%. Silicon Motion Technology adds 5.33% on takeover speculation, United Microelectronics climbs 4.75% on foundry capacity upgrades and Taiwan Semiconductor Manufacturing ADR advances 3.64% after reporting record monthly sales, underscoring a powerful rotation into memory and foundry names.

News

Micron Technology beats estimates and guides higher. The memory maker topped consensus fiscal Q4 revenue and forecast a double-digit jump in fiscal Q1, signaling a deep recovery in DRAM demand and sending the stock up sharply.

Intel raises full-year outlook as new AI accelerator ships. Management now sees FY26 sales growing “at least” 8% with gross margin expansion, fueling optimism that the long-awaited turnaround is taking hold.

Western Digital unveils strategic partnership with Samsung. The two firms will co-develop next-generation 3D NAND, a move analysts say could improve supply discipline and pricing power across the memory chain.

NVIDIA launches Blackwell Ultra architecture. The upgraded platform promises 30% lower inference cost per token and keeps the chip leader at the center of generative-AI spending plans.

Tesla Motors confirms first mass-market Cybertruck deliveries this quarter. The company reiterated its target of 200,000 units annually, easing fears of further delays and supporting the stock’s early uptick.

Advanced Micro Devices wins major hyperscale order. A tier-one cloud provider committed to AMD’s MI325X GPUs for AI training clusters, boosting revenue visibility for 2026–27.

Taiwan Semiconductor Manufacturing reports record June sales. Revenue rose 32% year-over-year as AI server demand offset smartphone weakness, lifting ADRs and reinforcing supply-chain confidence.

Microsoft faces EU probe over Teams bundling. Regulators allege the practice harms competition in workplace messaging, adding a fresh overhang to the tech giant’s antitrust docket.

Alphabet rolls out Gemini 2.0 update in the United States. Early testers say the large-language-model upgrade improves multimodal capabilities, but the modest stock response suggests gains were largely priced in.

U.S. weekly jobless claims fall to seven-month low. The data signal continued labor-market resilience, reducing recession fears and underpinning risk appetite at the opening bell.