Bloomberg Audio Studios, podcasts, radio News.
This is the closing bell on this stock mover's report the companies making moves at the close of US trading with Carol Masser, Tim Stenebeck, Romain Bostik, and Katie Greyfell.
Let's go to some of the individual gainers and I got to talk about Micron closing at I believe a record here today, the stock finishing with a gain of about fifteen point seven percent at its highs. It almost hit a twenty percent gain, so backing off some of that we know surging here after the company issued a quarterly sales forecast at exceeded Wall Street estimates, signaling that
an AI fueled growth run remained strong. It has secured sixteen strategic customer segments agreements, which suggests that the company can kind of mitigate what we often talk about in the semi space, the boom and bus cycles that have plagued in particular the memory chip industry. This stock is now up about three hundred and twenty eight percent year to date, So check out all the superlatives in terms
of the numbers. When that company reported so that one was hire another chip name in the space, something that Romain actually caught up with the CEO at Qualcomm today along with our Ed Ludlow. That stock also rallying at its highs up more than eleven percent, finishing the day with a much smaller game but still up about three point seven percent. That's after the chip maker forecast annual sales are more than fifteen billion from AI components in
data centers by fiscal twenty twenty nine. There's a lot to that report, but be sure to check out the interview that Ed and Romaine did with the CEO of Cristiano Aman. Really good stuff there.
Hey.
I also want to just show you that Philadelphia Semiconductor Index. No surprise to see that average thanks to Micron and Qualcomm and others. It was up about three point six percent in today's session. You had twenty one of the thirty names in the index higher for the trade. So
just something to point out there, hey. And then for something different, and I just wanted to take a look at airlines if we flip on over to that board, and that group up almost five percent if you look at the S and P Supercomposite Airlines Industry Index, finishing the day with a game of about two point two percent, rallying for five days in a row, up about thirteen
percent in that timeframe. I also want to bring up jets, the US Global Jets ETF, which is a bigger picture of the global airline space, and that one was up about one and a half percent. It's something that you really look at when you want to look at the biggest airline stocks. It has moved up to its highest level since September of twenty eighteen, out pacing the S and P five hundred year to date. But keep in mind the index has gone barely nowhere since the end
of twenty nineteen, but nonetheless moving up today. And of course we know a lot of it has to do with it looks like things easing between Iran and certainly the US. We've seen energy prices come down, but again today we were reminded ain't all over yet yet.
Everybody, the question is what is the pass forward for me? Cap Tech? In fact, every single name in the mag seven was lower today. I want to home in on Apple shares of Apple having their worst day going all the way back to April of twenty twenty five. You guys remember that that was post Liberation Day when shares of Apple actually fell more than six point one two percent. That's how they post today. What was that I was sitting right here. I was sitting right well here, but
in a different studio. Exactly there, I guess Romain was exactly, you're really there. Everybody knows the story right now about Apple, and that's its hiking prices on Vision Pro home devices, Imax iPads and some other home devices because of that memory chip shortage. We talked to Man Deep Saying of Bloomberg Intelligence a little earlier, and he said, there has
to be demand destruction with a move like this. If you raised price is fifteen to twenty percent and you're selling the same thing, you're not going to sell as many of those things. So that's just economics. One oh one shares Apple getting head today to the two. I do wonder does not have to be pedantic.
But do you think because some of these price sites don't take effect for a few weeks, you think it's gonna be like a rush to buy?
Yes?
I do see. Yeah, I think there absolutely will be kind of like there is, you know, a lull ahead of a new iPhone launch in September. Yeah, so yeah, I think I think consumers are pretty smart about this stuff. And Apple's also really smart about when they time these things because you know, the fall is the most important selling period ahead of the holiday season. Hey, speaking of the AI boom and chips Cerebras systems, keep an eye on this stock. Shares tumbling today, falling to the tune
of seven and a half percent. Although it was lower, it was on track for a record two day session loss. The company did give that disappointing annual sales outlook. That wasn't yesterday, that was the day before. It fell as much as twelve percent. Intra day to day traded at its lowest level since it may launch, shares close to fifty percent below that record high of more than three hundred dollars that was hit on its first day of public trading. At that time, it was before SpaceX, so
it was the largest IPO of the year. And finally, we haven't been talking about this that much except on the Crypto Show. Oh, look at what bitcoin has been doing and when bitcoin moves Strategy the company formerly known as micro Strategy moves Bitcoin taking a tumble today. Shares a micro Strategy down today by nine point four percent. Fears are growing that the bitcoin buying machine is beginning to seize up, fueling the latest leg of Bitcoin's sell
off strategy. Shares down today by nine point four percent.
The Stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.