ADVFN US – Market Content Editor
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Apple reportedly tests CXMT memory chips as AI demand tightens global supply
Apple Inc (NASDAQ:AAPL) is reportedly evaluating memory chips produced by China’s CXMT Corp for use across products including iPhones and MacBooks as surging artificial intelligence investment places increasing pressure on global memory supplies. According to The Wall Street Journal, Apple has also held preliminary discussions with CXMT about potentially sourcing memory components for devices sold…
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SpaceX shares surge 15% as stock rebounds from record low
SpaceX (NASDAQ:SPCX) shares jumped 15.83% on Friday, August 7, extending a sharp recovery after gaining 6.14% in the previous session. Across the week, the stock advanced a combined 22.8%. The rebound followed an exceptionally volatile period for SpaceX shares. On Wednesday, the stock had plunged almost 14%, marking its second-worst trading session since the company’s…
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Airbnb shares jump 17% after quarterly results beat expectations
Airbnb (NASDAQ:ABNB) shares surged 17.43% on Friday, August 7, closing at $178.07 and reaching their highest level since April 2022. The sharp rally followed the release of stronger-than-expected second-quarter results, with both revenue and earnings exceeding Wall Street forecasts and providing fresh momentum for the travel platform’s shares. Revenue climbed to $3.61 billion from $3.1…
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Silence Therapeutics shares surge ahead of divesiran Phase 2 results call
Silence Therapeutics (NASDAQ:SLN) shares jumped 16.2% in pre-market trading on Monday as investors positioned ahead of a conference call covering topline results from the Phase 2 SANRECO trial of divesiran, the company’s lead siRNA candidate for polycythemia vera. The clinical-stage biotechnology company announced over the weekend that it would present and discuss the results through…
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Jowell Global shares soar in pre-market trading without clear catalyst
Jowell Global Ltd. (NASDAQ:JWEL) shares surged 58.3% in pre-market trading on Monday to reach $2.49, delivering a sharp move for the Shanghai-based e-commerce company. Jowell Global operates an online platform in China offering products including cosmetics, health supplements and household goods. No obvious company-specific development appeared to account for the sudden rally. There were no…
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Oil prices hold steady as Iran conditions cloud Hormuz reopening prospects
Oil prices were broadly stable on Monday as traders weighed tentative progress towards reopening the Strait of Hormuz against Iran’s insistence that Washington must meet several additional conditions before unrestricted shipping can resume through the strategically important waterway. Brent crude futures were up 19 cents at $83.74 per barrel by 0807 GMT, while U.S. West…
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Gold holds close to seven-week peak as markets assess Iran risks and Fed outlook
Gold prices moved modestly higher on Monday, remaining close to the seven-week highs reached in the previous session as investors monitored geopolitical uncertainty surrounding Iran and looked ahead to key U.S. inflation data for further signals on the Federal Reserve’s interest-rate trajectory. Spot gold gained 0.3% to $4,354.51 an ounce as of 03:03 ET (07:03…
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Iran demands, Berkshire Hathaway results and U.S. inflation shape market sentiment: Dow Jones, S&P, Nasdaq, Wall Street Futures
U.S. stock futures were mixed but generally positive on Monday as investors weighed diminishing prospects for a rapid resolution to the Iran conflict against expectations for important U.S. inflation data later this week. Markets were also digesting Berkshire Hathaway’s (NYSE:BRK.B) latest results, which showed new chief executive Greg Abel beginning to deploy more of the…
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Strong S&P 500 Earnings Provide Support as AI Stocks Remain Volatile
Strong second-quarter corporate earnings are helping support U.S. equities despite continued turbulence among artificial intelligence-related stocks, according to Goldman Sachs. The bank believes recent weakness in momentum-driven AI names resembles previous periods of consolidation rather than necessarily signalling the end of the investment theme. AI Stocks Enter Consolidation After Powerful Rally Goldman strategists led by…
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Citi Recommends Buying the Dip in Memory Stocks as AI Cycle Gains Momentum
Citi believes the recent sell-off in memory chip stocks presents a buying opportunity, arguing that the artificial intelligence-driven memory cycle is still in its early phases and could ultimately exceed the industry’s previous boom between 2001 and 2007. The bank says the current environment shares many similarities with the long NAND expansion seen during the…