Stocks rose Monday as the chip stock rally reignited after last week's losses.

Advanced Micro Devices advanced 9.5% to $566.25, placing it at the top of the S&P 500. Goldman Sachs raised its price target on the stock to $640 from $450 and maintained its Buy rating on the chip maker. The firm expects a strong quarterly earnings report and robust guidance with no end in sight for artificial-intelligence demand.

Western Digital and Sandisk gained 6.9% and 3.7%, respectively. Micron Technology rose 3.3% as memory-and-storage companies bounced back after a drop last week. Intel advanced 3.2%.

ASML Holding added 4.8% to $1,855.51. Bernstein raised its ASML price target to $2,623 from $1,971 and kept an Outperform rating on the shares. The firm also increased its revenue estimates for the company on expectations that the AI-driven expansion in both advanced logic and memory capacity will continue to boost sales.

Tech-sector cheer was reinforced by Taiwan's Foxconn -- formally named Hon Hai Precision Industry and the world's largest contract electronics maker -- reporting a 40% increase in second-quarter revenue.

However, that wasn't massively helping two of Foxconn's biggest customers -- chip maker Nvidia, which was up 0.8% and Apple advanced 1.6%.

SpaceX fell 0.7% ahead of its addition to the Nasdaq 100 index on Tuesday. Cloud-computing-and-software company Oracle gained 1.6% after getting some support from Wall Street analysts last week. Oracle has declined for nine straight sessions.

Dell Technologies gained 5.5% after President Donald Trump said at a press conference from the White House that consumers should " go out and buy a Dell computer." Trump has publicly supported Dell multiple times during his second term and purchased $5.1 million worth of Dell shares in the first quarter.

Strategy shook off early losses and advanced 0.7%. The largest corporate holder of Bitcoin reported it sold the cryptocurrency last week. Strategy sold 3,588 Bitcoin in total between June 29 and July 5. Among other cryptocurrency-related stocks, Robinhood Markets and Coinbase Global gained 4.9% and 2.2%, respectively. Bitcoin prices added more than 1% over the past 24 hours, according to CoinDesk.

TeraWulf added 13% after the Bitcoin miner turned data-center operator announced a 20-year lease agreement with AI start-up Anthropic. The company expects the agreement to generate around $19 billion of contracted revenue over "the initial lease term."

Automotive aftermarket stocks O'Reilly Automotive and AutoZone were among the worst performing S&P 500 components. O'Reilly stock and AutoZone shares fell 6.7% and 5.8%, respectively.

Write to Adam Clark at adam.clark@barrons.com and Kit Norton at kit.norton@barrons.com

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(END) Dow Jones Newswires

July 06, 2026 12:11 ET (16:11 GMT)

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