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On May 11, 2026, the US stock market opened with mixed results: the Nasdaq Composite Index dipped by 0.31%, the S&P 500 Index edged down by 0.11%, while the Dow Jones Industrial Average managed a slight gain of 0.02%. Amid this landscape, chip stocks stood out with robust performances. Notably, Micron Technology's shares soared by over 5%, Qualcomm's stock surged more than 7%, Intel's climbed over 4%, and AMD's shares increased by over 1%, with all these companies hitting all-time highs. In contrast, the so-called 'Magnificent Seven' stocks, which include industry giants like Apple, Nvidia, and Tesla, experienced declines. Additionally, stablecoin issuer Circle saw its shares rise over 1%, buoyed by a 20% year-on-year increase in first-quarter revenue, which reached $694 million.
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