Palantir (PLTR) Surges, Micron (MU) Plunges... US Tech Stocks Show 'Cracks' Amid China's Memory Offensive

▲ US, China, Tech Stocks, Semiconductors, Palantir (PLTR), Micron (MU), SK Hynix / AI Generated Image

Palantir Technologies (PLTR) rose ahead of its earnings announcement. In contrast, Micron Technology (MU) and SK Hynix were pushed down by concerns over memory semiconductor supply from China. The US stock market showed clear divergence based on individual stock catalysts.

According to US investment media outlet Barron's on August 3 (local time), expectations for a ceasefire grew after US President Donald Trump announced he would resume negotiations with Iran. Palantir rose 3.1% in pre-market trading ahead of its second-quarter earnings release. Palo Alto Networks (PANW) climbed 4.1%, and CrowdStrike (CRWD) rose 3.6%.

Micron fell 3.6% amid concerns over expanding supply from Chinese memory chip manufacturers. SK Hynix's American Depositary Receipts also dropped 3.2%. Samsung Electronics shares also showed weakness, spreading caution about supply competition from China across the entire memory semiconductor industry.

Bristol Myers Squibb (BMY) surged 5.7% on reports that it was discussing a merger with AstraZeneca (AZN). AstraZeneca fell 5.6%. AstraZeneca declined to comment on the merger rumors, and Bristol Myers Squibb did not immediately respond.

Ferguson Enterprises (FERG) jumped 8.3% on news of its inclusion in the S&P 500 index. Ferguson will join the index, replacing Electronic Arts (EA). Alibaba (BABA) rose 4.2% after unveiling its AI model, Qwen 3.8-Max.

Earnings announcements from Marriott International (MAR), TG Therapeutics (TGTX), and Tyson Foods (TSN) also garnered market attention. While expectations for a Middle East ceasefire supported the overall stock market, earnings, merger rumors, supply competition from China, and index inclusion determined the direction of individual stocks.

[Article Key Summary]

-Palantir rose 3.1% ahead of its Q2 earnings announcement, and cybersecurity stocks also showed strength.

-Micron fell 3.6% due to concerns over expanded Chinese memory chip supply, and SK Hynix's American Depositary Receipts also dropped 3.2%.

-Bristol Myers Squibb surged 5.7% on merger rumors, and Ferguson jumped 8.3% on news of its S&P 500 index inclusion.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*