Chip stocks and Dell lead midday gainers as analyst calls and deals lift shares

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Chip stocks and Dell midday gainers

Highlights

Teradyne rises 4%, AMD climbs nearly 8%, and iShares Semiconductor ETF advances 3% after Goldman Sachs raises 12-month price targets for both chipmakers.
Micron adds 3% after announcing a long-term memory and storage supply deal with Ford Motor, while Broadcom rises 4% on an extended Apple partnership through 2031.
O'Reilly Automotive drops 7% on reports of a cash bid for Genuine Parts' auto-parts business, while Solstice Advanced Materials falls 15% amid $27 billion Element Solutions merger talks.

Analyst actions and corporate announcements drive trading

As reported by CNBC, several of the session's biggest movers are rising on fresh Wall Street target changes and company announcements rather than broad market news.

International Business Machines gains more than 3% after Bank of America raises its price target to $330 from $315 and says it anticipates IBM will raise fiscal 2026 guidance modestly. Teradyne and Advanced Micro Devices also move higher after Goldman Sachs lifts its 12-month targets to $465 from $350 and to $640 from $450, respectively, while maintaining buy ratings on both stocks. Teradyne last trades about 4% higher and AMD climbs nearly 8%, while the iShares Semiconductor ETF rises more than 3%.

Micron Technology adds nearly 3% after Micron and Ford Motor announce a long-term agreement under which the chipmaker will provide memory and storage platforms for Ford's next-generation vehicles. Broadcom rises 4% after saying it is expanding its partnership with Apple through 2031 to develop and supply custom chips for multiple generations of Apple products, while Apple gains more than 1%. AXT surges almost 20% after saying a subsidiary entered a master development and supply agreement with Coherent that includes expanding manufacturing capacity at a Beijing plant through 2028, and Coherent advances more than 3%.

ASML Holding climbs more than 4% after Bernstein raises its price target by more than 30% to $2,300. The firm says it is lifting forecasts amid what it describes as unprecedented expansion in logic and DRAM capacity tied to artificial intelligence.

Deals, policy signals and sector sentiment shape broader impact

O'Reilly Automotive falls more than 7% after Bloomberg reports, citing people familiar with the matter, that the company is making a cash bid for Genuine Parts' auto-parts business. D.A. Davidson says such a transaction would be accretive for O'Reilly and reiterates its buy rating and $114 price target.

Solstice Advanced Materials drops about 15% on reports it is in talks to merge with Element Solutions in a combination that could create a $27 billion company. Element Solutions declines about 3%, and the discussions are ongoing, with people familiar saying a deal could come together as soon as this week.

TeraWulf jumps 10% after Anthropic signs a 20-year lease to use a TeraWulf data center in Kentucky, a contract expected to generate about $19 billion in revenue over the initial term. Dell Technologies gains almost 4% after President Donald Trump promotes Dell computers from the White House after ringing the stock market's opening bell in the Oval Office; a government ethics filing shows Trump bought between $1 million and $5 million in Dell shares on Feb. 10 and made three other smaller Dell purchases in March. T-Mobile U.S. rises more than 1% after Bank of America upgrades the stock to buy from neutral, saying investor pessimism toward the telecommunications sector appears overdone after the shares fall more than 20% from their February 2026 highs.

In our earlier article on IBM’s $10 billion quantum computing initiative, we explained how the multi-year investment plan and expectations ahead of the company’s July 22 earnings helped support bullish sentiment in the stock. We also highlighted a technical setup showing strong momentum but signs of overbought conditions, with the price expected to consolidate within a defined range unless a clear breakout or breakdown occurs.

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