S&P 500, Nasdaq rise as tech stocks gain ahead of midterm results - Yahoo Finance
The Nasdaq rose as investors engaged in dip-buying of AI-related chip stocks ahead of US midterm election results. Despite this, Apple shares fell due to concerns over rising memory chip costs impacting future margins.
Why it matters
Market volatility in the tech sector reflects investor anxiety regarding the high capital expenditure required for AI infrastructure versus actual cash generation.
Nasdaq ends higher as AI heavyweights rebound ahead of midterm results By Noel Randewich Wed, November 4, 2026 at 5:14 AM GMT+8 3 min read AAPL +6.19% ^NDX +1.31% MU -5.58% NVDA -1.37% ^IXIC +1.94% By Noel Randewich
Nov 3 (Reuters) - The Nasdaq ended higher on Tuesday as AI heavyweights rebounded ahead of US midterm election results, while Apple fell after the iPhone maker joined the list of Big Tech companies whose quarterly results failed to impress investors.
Apple dropped 1.9% after it warned that the cost of memory chips would continue to rise, pressuring its holiday-quarter gross margin.
Memory-chip maker Micron Technology gained 2.6%, while Nvidia rose 2.3% after falling in the last four sessions.
The broader Philadelphia chips index jumped, while AMD rose ahead of its quarterly report due after the bell.
Microsoft and Amazon each moved more than 2% higher.
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