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Sign InIn a session marked by sharp divergence among tech stocks, Micron shares surged 16% after posting quarterly earnings that beat analyst expectations, according to financial reports. In contrast, Apple shares tumbled more than 6% after the company announced price increases for Mac and iPad products, citing rising memory costs. Among major indexes, the S&P 500 was nearly flat, the Nasdaq Composite fell 0.8%, and the Dow Jones Industrial Average rose 0.4% as Caterpillar hit an all-time high.
The moves come amid mixed performance among large-cap tech peers: Alphabet (GOOGL) closed at $340.78, Meta (META) at $551.43, and Microsoft (MSFT) at $354.51, per market data as of June 25. Caterpillar (CAT) held its gains, closing at $1,022.28 on June 22, supporting the Dow. Analysts note that the semiconductor and consumer tech sectors are diverging, reflecting a shift in investor preferences.
In recent trading, Apple closed at $279.89 on June 25, after touching a low of $273.75 and a high of $288.80 during the session. Caterpillar traded near its peak of $1,023.29. Investors are now focused on whether rising memory costs will continue to pressure Apple's margins, while markets await upcoming U.S. inflation data and Fed speeches that could shape monetary policy direction.