A sell-off in tech stocks intensified on Friday as the New York Times reported that OpenAI may delay its initial public offering. The report cited the reaction to SpaceX's IPO as one reason for OpenAI's caution, noting that shares of Elon Musk's rocket and satellite company have given up nearly all their post-IPO gains after initially soaring nearly 60% above the IPO price. The broader tech sector has faced volatility amid strong AI demand and supply chain bottlenecks, with Apple stock falling 6% on Thursday after the company raised prices on iPads and MacBooks due to the memory shortage. In contrast, Micron stock jumped over 15% after its third quarter earnings beat expectations and surpassed estimates for its fourth quarter revenue outlook, while Qualcomm rose after raising its non-handset revenue target to $40 billion by fiscal year 2029.
Micron Technology Inc
Qualcomm Incorporated
Apple Inc.