Shares of technology companies rallied as an artificial-intelligence boom regained momentum.
Shares of memory chip maker Micron continued a torrid running, rising by more than 10% after research firm IDC said AI could change the long-term dynamics of the notoriously cyclical memory-chip market.
Palantir shares fell after the provider of AI-enabled consulting services posted earnings short of some investors' expectations.
"AI beneficiaries with recurring revenue and pricing power; AI survivors capable of absorbing competition and margin pressure; mispriced AI losers where fear has outpaced fundamental deterioration" are the three likely categories, said Scott Froidl, senior investment analyst at brokerage LPL Financial.
Shares of Intel and Samsung soared after Bloomberg reported that Apple is exploring using the two companies to build the main chips for its devices in the U.S.
Quantum-computing firm IonQ rose ahead of its earnings report. Quantum-computing stocks have languished for much of 2026 after speculative gains last year related to hype about the technology's promise.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-05-26 1719ET
