(Source: Finance and News)

Meanwhile, optics communication stocks surged broadly: Mavenir Technology rose by about 6%, Coherent by about 8%, Credo by about 5%, Lumentum by about 7%, and Corning by about 6%.

On July 21, U.S. stocks opened higher. The Dow rose 0.29%, the Nasdaq rose 1.04%, and the S&P 500 rose 0.62%. The storage-chip concept led the gains, with the Philadelphia Semiconductor Index up 4.50% at the open. Micron Technology rose 6.8%, Nvidia’s share price rose 2.32%, TSMC rose 3.49%, and Broadcom rose 2.65%. Hynix rose 6.9%, and SanDisk and Western Digital both rose more than 8%.

Semiconductor equipment, wafer foundry, optical communications, and other sectors moved higher. United Semiconductor rose 5.6%, Lam Research Group rose 6%, and Applied Materials and KLA both rose more than 5%. Lumentum rose 6%, Mavenir Technology rose 5.6%, Advanced Micro Devices’ share price rose 4.78%, and ASML rose 3.2%.

Meanwhile, optical communications stocks rose across the board: Mavenir Technologies climbed about 6%, Coherent about 8%, Credo about 5%, Lumentum about 7%, and Corning about 6%.

Behind the market rebound, investors have set their sights on this week’s start of earnings season for major U.S. tech giants. Tesla and Alphabet will report results on Wednesday first, kicking off the earnings releases for large technology companies; Microsoft, Meta, Apple, and Amazon will follow in succession over the following week.

A key question for the current market is whether these companies can prove that their massive investments in AI are worth it with actual performance. Ikuo Mitsui, fund manager at Aizé Securities, said: “The market has already undergone a fairly sizable adjustment, but at the same time, corporate earnings have remained relatively steady, showing resilience that is stronger than expected.”