BUSINESS

Australian shares closed lower with the S&P/ASX 200 falling 0.70% due to weakness in mining and energy stocks, influenced by global market volatility and declining commodity prices.

Apple plans to launch an OLED iPad Mini in October, marking a significant redesign since 2021. The upgrade comes with a price increase due to a global memory chip shortage affecting consumer electronics.

OnePlus is exiting the US and European markets, focusing on China and India. Existing customers will receive continued support, but the OnePlus Community site will shut down in affected regions.

Red Robin is closing up to 70 underperforming locations as part of a restructuring plan to improve financial performance, involving refranchising and debt reduction efforts.

SK Hynix's ADRs have experienced significant volatility since their Nasdaq debut, driven by structural factors and leveraged trading products, despite strong fundamentals in the AI hardware sector.

Micron Technology's shares have dropped significantly due to increased competition from Chinese rivals and market uncertainties, despite analysts maintaining a bullish outlook on the company's long-term prospects.

The CBOE Volatility Index rose 3.66% amid semiconductor selloffs and Middle East tensions, reflecting ongoing market volatility influenced by geopolitical risks and technology sector fluctuations.

The Russell 2000 index has surged nearly 22% in 2026, marking its best first-half performance since 1991, driven by semiconductor gains and improved small-cap fundamentals.

The Nasdaq Composite fell sharply as semiconductor stocks declined, overshadowing strong earnings from Taiwan Semiconductor. Investor concerns over valuations and geopolitical tensions contributed to market volatility.

The Dow Jones Industrial Average rose slightly as investors shifted focus from tech to industrial stocks amid mixed earnings and geopolitical tensions affecting oil prices.

Exxon Mobil shares fell amid volatile oil prices and geopolitical tensions in the Middle East, with analysts offering mixed outlooks ahead of the company's upcoming earnings report.

South Korea's KOSPI index fell 6.49% due to a semiconductor stock selloff, triggering a trading halt. The decline follows a brief rally, highlighting ongoing market volatility.

The ASX 200 fell 0.15% as mining stocks offset gains in banking and communication services, despite a Wall Street rally. Global uncertainties, including Middle East tensions and China's GDP, influenced trading.

Johnson & Johnson's stock fell despite exceeding Q2 earnings expectations, as investor optimism had already been priced in. The company raised its full-year guidance, aiming for a historic revenue milestone.

SpaceX shares have dropped over 40% since their IPO, facing volatility and valuation challenges. However, FAA clearance for the next Starship test flight offers potential positive momentum.

Lucid Group's stock surged 20.45% after denying bankruptcy rumours. The company reassured investors of its financial stability, despite confirmed restructuring advisers and ongoing financial challenges.

Amazon's shares rose nearly 3% as investor confidence grows in its AI-driven cloud performance and resilient retail operations, highlighting its diversified business model and potential for sustained growth.

Microsoft's stock rises as investors pivot from chip stocks to AI software. Despite legal challenges and workforce changes, strong fundamentals and an OpenAI partnership support optimism.

Nvidia's stock dipped 1.48% following a recent rally, as CEO Jensen Huang reassured investors about AI chip production. Meanwhile, U.S. export policy shifts offer new opportunities for AI chip exports.

Palantir Technologies' stock rises due to an expanded Nvidia partnership and positive analyst actions, as the company shifts from government contracts to broader enterprise applications ahead of its earnings report.

AMD shares fell 5.77% amid semiconductor sector volatility, driven by memory chip market turmoil. Despite recent declines, analysts remain optimistic about AMD's AI growth potential and long-term prospects.

Navitas Semiconductor's stock remains volatile due to a patent dispute with Wolfspeed and a major capital raise. The company's focus on AI infrastructure and upcoming earnings report are key factors.

SanDisk shares fell 11.66% after Argus Research's 'Hold' rating, amid a broader memory chip sector pullback. Concerns over NAND pricing and inventory adjustments contributed to the decline.

Oracle Corp. reports record fiscal 2026 results, driven by strong cloud and AI infrastructure growth. The company sees continued expansion, with a $638 billion backlog and strategic investments in AI capabilities.

Apple's stock rose over 3% as investors focus on AI integration, services growth, and upcoming earnings. The company's strategic moves in foldable devices, supply chain diversification, and AI features bolster its market position.

Intel shares fell 5.76% due to memory chip market turmoil and rising oil prices, ahead of its second-quarter earnings report. Despite recent volatility, Intel's long-term uptrend remains intact.

Tesla's Q2 vehicle deliveries exceeded expectations, boosting investor confidence. However, concerns about valuation and competition remain as analysts anticipate the upcoming earnings report.

Alphabet shares rose 3.64% after Warren Buffett confirmed Berkshire Hathaway's investment, boosting confidence in the company's AI expansion. Analysts remain bullish ahead of Alphabet's upcoming earnings report.

Micron Technology's shares fell 7.59% amid sector-wide volatility, driven by concerns over future memory chip pricing and supply, despite positive analyst sentiment and a strong market performance.