Semiconductor Rally and Big Tech Earnings Amid Mixed Market with 1,000-Point Dow Plunge

기타 | Fri Jul 31 2026 00:00:00 GMT+0000 (Coordinated Universal Time) | 6 sources

Chip stocks surged on AI demand while Amazon and Apple posted strong earnings, but the Dow tumbled after the Fed held rates steady.

Analysis

[Lam Research & Microsoft] triggered semiconductor sector surge with AI-driven earnings beats ^[3]

• Lam Research jumped 18%
• biggest gain since 1999
• Microsoft rose 15%
• largest gain since 2008
• Signaled Azure growth and expanded capex

[Micron & Sandisk] soared double digits on prolonged memory supply crunch outlook ^[3]

• Micron up 18%
• Sandisk up 26%
• Samsung warned memory crunch could extend through 2028
• Rebounded after recent declines from weak SK Hynix results

[AMD, Arm, Nvidia and other semiconductor stocks] drove broad chip rally as iShares Semiconductor ETF jumped 8% ^[3]

• Applied Materials up 15%
• AMD up 13%
• Intel up 11%
• Marvell up 13%
• Nvidia up 3%
• Arm rose 7% as demand for its AGI CPU topped $2B

[Amazon] beat earnings expectations and disclosed $600M Trump tariff refund ^[1][2]

• Raised 2026 capex to $220B
• Received about $600M in tariff refunds in Q2
• Plans to return some refunds to consumers

[Dow Jones Industrial Average] plunged more than 1,000 points after Fed rate hold and oil surge ^[6]

• Fed held benchmark rate at 3.5–3.75%
• with 3 members dissenting in favor of a hike
• WTI crude approached $85
• Historically rebounds median 2% after 1 month and 9.1% after 3 months

[Rivian & Carvana] posted mixed stock reactions after EV and used-car retail earnings ^[4][5]

• Rivian trimmed 2026 capex to $1.7–1.8B and began R2 SUV deliveries
• Carvana's 2026 guidance fell short of analyst expectations
• Carvana plunged over 20% in after-hours trading

Sources

• [1] Amazon Tops Estimates | Closing Bell - Bloomberg Markets
• [2] Amazon got $600 million in Trump tariff refunds and will pass return along to some customers - CNBC World Markets
• [3] AMD and Micron surge, Lam Research climbs 17% as chip stocks rip higher - CNBC World Markets
• [4] Rivian reduces 2026 spending plans, narrows earnings guidance - CNBC Earnings
• [5] Carvana stock falls as auto retailer’s 2026 earnings guidance misses Wall Street’s expectations - CNBC Earnings
• [6] Here are the last times the Dow dropped by 1,000 points and what happened next - CNBC Finance