US Opening Bell | Nasdaq outperforms; Amazon.com jumps 12% / Apple sinks 9%; Semiconductor rally

Market

July 31, U.S. stocks opened higher as upbeat mega-cap tech results and easing inflation concerns fueled risk appetite. The Dow Jones Industrial Average rose 0.36% to 52,398, the S&P 500 added 0.49% to 7,474, and the Nasdaq Composite climbed 0.85% to 25,335, pacing gains as investors rotated back into growth shares.

AXT Inc jumps 43.0% after unveiling a long-term wafer supply pact; Direxion Daily Semiconductors Bull 3x Shares rallies 14.1% as chip optimism swells; Bloom Energy Corp surges 13.5% on raised revenue outlook; Amazon.com soars 11.7% on record Prime Day sales; Intel gains 6.6% on strong server chip orders; Advanced Micro Devices rises 5.7% on fresh AI accelerator contracts. On the downside, Roblox Corporation plunges 18.9% following a bookings warning, while Apple falls 8.7% after issuing cautious iPhone guidance.

Broader tech strength lifted United Microelectronics 5.4%, Marvell Technology 8.5%, and Taiwan Semiconductor Manufacturing 3.9%, with NVIDIA up 1.4%. Leveraged products echoed the momentum as ProShares UltraPro QQQ rose 4.2% and Roundhill Memory ETF climbed 5.2%. Conversely, Direxion Daily Semiconductors Bear 3x Shares tumbled 13.7% and Reddit slid 18.4% amid continued post-IPO volatility.

News

Amazon.com reports record Prime Day sales, shares jump 11.7%. Management said event revenue grew 23% year over year, driving improved Q3 revenue guidance and renewed confidence in consumer demand.

Micron Technology beats earnings estimates, stock climbs 5.0%. Robust demand for high-bandwidth memory used in AI servers pushed margins higher, and the company guided for sequential growth.

Apple warns of softer iPhone demand, shares sink 8.7%. Executives cited elongated upgrade cycles and mixed China trends, prompting analysts to trim fiscal-year revenue forecasts.

AXT Inc secures strategic wafer deal, soars 43.0%. The agreement with an unnamed leading foundry is expected to double annual revenue, positioning the company as a key compound-semiconductor supplier.

Advanced Micro Devices unveils next-gen AI accelerator, gains 5.7%. Early benchmark results show performance improvements over competitors, bolstering expectations for data-center market share gains.

Intel lands new foundry customers, stock rises 6.6%. CEO Pat Gelsinger confirmed multiple design wins that should lift capacity utilization and gross margins in 2027.

Bloom Energy Corp lifts revenue outlook, shares pop 13.5%. Management cited accelerating demand for clean hydrogen solutions and expanded partnerships with utilities.

Roblox Corporation cuts bookings forecast, dives 18.9%. A slowdown in user spend and increased content costs raised concerns about the platform’s growth trajectory.

Taiwan Semiconductor Manufacturing affirms $20 billion U.S. expansion, adds 3.9%. The chipmaker said construction of its Arizona fab remains on schedule, aiming to boost domestic semiconductor supply.

Federal Reserve reiterates data-dependent stance, steadies rate outlook. Chair Jerome Powell signaled patience on further hikes, leading traders to pare back expectations for additional tightening this year.