Overview
- Global equity markets swung between rallies and selloffs after blowout results and upbeat guidance from Micron and Qualcomm lifted chip stocks but renewed profit‑taking hit many AI‑linked names.
- Micron reported much stronger profit and revenue and gave a bright forecast, sending its shares sharply higher and briefly lifting semiconductor indices worldwide.
- Apple said it will raise prices on iPads and MacBooks to offset higher memory and storage costs, which dented big‑tech sentiment and wiped roughly $250 billion from Apple’s market value.
- Oil fell toward multi‑month lows as more tankers resumed transit through the Strait of Hormuz with IMO guarantees and Saudi Aramco restarted loadings, lowering near‑term inflation expectations and pushing 10‑year Treasury yields down.
- Asian markets saw the heaviest selling, with South Korea’s Kospi triggering a circuit breaker, reflecting concentrated gains in a few chip names, worries about hyperscaler capex and stretched valuations that could deepen volatility.