Stock market today: Dow rises, S&P 500 and Nasdaq slip as Micron soars, Apple dr

Stocks were mixed on Thursday as blowout earnings from Micron (MU) failed to deter a sell-off in Big Tech, while a fresh inflation report showed prices rising again in May.

The tech-heavy Nasdaq Composite (^IXIC) slipped 0.5%, while the S&P 500 (^GSPC) fell below the flat line following several tough days for Wall Street stocks. The Dow Jones Industrial Average (^DJI), which includes fewer tech names, climbed 0.1%.

Micron's record-setting quarterly results relieved Wall Street jitters over lofty AI valuations and spending. Shares of the memory chip maker rocketed more than 15% after the company's blowout earnings beat and guidance.

However, Big Tech took a hit as concerns over dwindling free cash flow amid AI spending weighed on the hyperscalers.

Meanwhile, Apple (AAPL) shares declined roughly 6% after the iPhone maker raised prices on its MacBooks and iPads due to surging memory and storage costs.

Qualcomm (QCOM) announced a move beyond smartphones into data center products such as chips and servers, in a bid to cash in on the AI boom. Its stock rose about 7% after it set a target of $15 billion in related new revenue.

In another lift to spirits, oil prices hovered near leve

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/live/stock-market-today-dow-rises-sp-500-and-nasdaq-slip-as-micron-soars-apple-drags-big-tech-lower-232650645.html)