Tech Stocks Lift US Market Amid Meta, Apple, and Intel Moves
US stocks opened higher on Wednesday, driven by gains in technology shares. The Dow Jones Industrial Average rose about 0.1%, while the S&P 500 gained 0.3% and the Nasdaq Composite increased by 0.5%.
Meta Platforms' stock was up around 1.6% after Citi placed the company on a 90-day upside catalyst watchlist. This move draws attention to potential near-term developments that could influence the stock, although it's not a guarantee of future gains.
Apple shares also rose following reports that the company is developing enterprise servers powered by its own silicon. The development would expand Apple's use of custom chip technology beyond consumer devices and into AI and data center infrastructure.
Intel and SK Hynix stocks jumped, with Intel up over 5% at the open, after reports that SK Hynix is exploring a deal to manufacture memory chips in the United States. The talks are exploratory, and no final production agreement has been confirmed.