Shares of technology companies rose after a blockbuster earnings report from Micron alleviated some worries about the artificial-intelligence boom.
The maker of memory chips saw shares rally after it forecast that sales in the fiscal second quarter would more than double to $18.7 billion, an arresting rate of growth even by the elevated standards of the AI era. Micron rival memory-chip makers such as SanDisk rose in sympathy.
"While AI's disproportionate role in driving market returns and index concentration shares unhealthy parallels with prior periods of speculation, leading companies today are much more fundamentally sound," said Scott Glasser, chief investment officer at money manager Clearbridge, in online commentary.
Online food-delivery service Instacart has been ordered to pay $60 million in refunds to customers to settle allegations from the Federal Trade Commission that it used deceptive practices to raise costs for shoppers.
Boatsetter and GetMyBoat, online platforms that allow users to rent boats of various types from other users, have signed a deal to combine, Boatsetter Chief Executive Michael Farb told The Wall Street Journal.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-18-25 1743ET
