BUSINESS

Micron Technology's stock has seen significant volatility due to AI-driven demand for memory chips, with recent price fluctuations influenced by profit-taking, executive stock sales, and market sentiment.

Nintendo's stock fell 5.72% amid a global memory chip shortage, impacting its profitability and leading to price hikes for the Switch 2 console, despite strong sales performance.

Apple and Amazon's contrasting earnings reports led to mixed market reactions, highlighting the impact of AI-driven demand on tech stocks. Apple faced challenges, while Amazon saw growth in cloud services.

China's SSE Composite Index rose 0.72% as semiconductor stocks rallied, despite weak manufacturing data and ongoing economic recovery concerns. The market remains volatile amid geopolitical tensions and policy uncertainties.

Asian markets surged as tech stocks rebounded following strong earnings from US giants. Japan's Nikkei and South Korea's KOSPI indices saw significant gains, driven by investor confidence in AI infrastructure.

South Korea's KOSPI index experienced its largest single-day rally, surging 17.91% due to tech giants' rebound and strong US tech earnings, despite recent market volatility.

The ASX 200 closed the week near a five-month high, driven by easing inflation and a strong U.S. tech rally, despite a late-session pullback in the materials sector.

Micron Technology shares surged 14.77% following Samsung's record profits and warnings of a prolonged memory chip shortage, highlighting the ongoing AI-driven demand and competitive pressures from Chinese manufacturers.

SK Hynix's U.S.-listed shares rose 14.59% due to Samsung's memory chip supply warnings and strong AI infrastructure demand, contrasting with declines in its Seoul-listed shares.

E-Trade users reported widespread access issues during a volatile trading session, with Downdetector logging a spike in complaints. The outage coincided with significant market movements and high trading volumes.

Intercontinental Exchange (ICE) announces a $6 billion all-cash acquisition of MarketAxess, aiming to enhance its bond market presence. The deal promises increased transparency and efficiency in fixed-income trading.

Nebius Group shares soared over 30% following a $1 billion AI computing deal with Reflection AI, buoyed by Microsoft's strong cloud earnings, despite recent volatility and valuation concerns.

South Korea's KOSPI index fell for a third session, driven by AI spending concerns and semiconductor valuations, despite Samsung's record earnings. Market volatility persists amid investor uncertainty.

The Powerball jackpot has reached $707 million, with no winner from the latest draw. Winners face significant tax implications and must choose between a lump-sum payout or annual installments.

The FTSE 100 index reached new all-time highs, driven by strong corporate earnings from companies like Rolls-Royce and BAE Systems, amid ongoing global market volatility and geopolitical tensions.

WiseTech Global's shares have rebounded following a governance crisis involving its co-founder, Richard White. Despite ongoing legal scrutiny, investor sentiment remains bullish, with analysts maintaining a strong buy rating.

Australia's ASX 200 index fell 0.83% due to the US Federal Reserve's hawkish interest rate stance and rising oil prices, affecting investor sentiment. Key company performances provided some market contrast.

DoorDash has launched its own drone delivery service, DoorDash Air, after receiving FAA approval. The service aims to enhance delivery efficiency and reduce reliance on human couriers.

Bitcoin remains stable as cryptocurrency markets await the Federal Reserve's interest rate decision, which could introduce significant volatility. Market sentiment is influenced by macroeconomic factors and geopolitical tensions.

Abbott Laboratories' shares rose 2.37% after reporting strong Q2 results and raising its 2026 earnings guidance, driven by growth in diagnostics, devices, and strategic acquisitions.

Dell Technologies' stock has experienced significant declines due to concerns over its AI server business, customer concentration risks, rising memory chip prices, and insider selling.

Nvidia's stock has dropped significantly, losing $238 billion in market value due to concerns over AI infrastructure spending and geopolitical challenges, despite strong financial performance and positive analyst outlooks.

The Nasdaq Composite fell 1.45% due to rising oil prices and a chip sector selloff, amid Middle East tensions and anticipation of the Federal Reserve's interest rate decision.

Manhattan Associates' shares surged 26.7% following record Q2 results, driven by a 26% increase in cloud subscription revenue and AI advancements, highlighting strong business momentum and strategic execution.

Huron Consulting Group's stock surged 32.11% after reporting Q2 earnings that exceeded expectations and raising its full-year guidance, driven by growth in AI-related services and recent acquisitions.

Xiaomi is set to launch the Sky Nomad N70, a mid-to-large SUV with an extended-range electric powertrain, marking its entry into the EREV segment. Full reviews await post-launch testing.

Xiaomi's shares rose nearly 9% as investors anticipate the launch of two new SUV models, marking the company's continued expansion into the electric vehicle market.

Tencent's shares rose 4.29% as investors showed renewed interest in its AI initiatives and upcoming earnings. The stock's performance reflects optimism around AI product momentum and earnings expectations.

Asustek Computer's stock rose 3.54% amid surging AI hardware demand, outperforming regional benchmarks. Despite strong growth, analysts note modest valuation multiples compared to Taiwan's tech sector.