Apple, Supermicro Surge; Oracle stock extends losses

A tech industry giant got a boost on Monday as the latest release of its flagship product showed promising sales momentum. Meanwhile, the stock of a software giant continued the decline that began last week amid questions about the company’s ability to reach lofty growth goals.

Major US stock indexes rose as markets began a new week of trading that will bring with it a flurry of earnings reports as well as key inflation data. The S&P 500, Dow and Nasdaq all rose more than 1%. Look here For more reports from Investopedia In today’s market movements.

Apple (AAPL) shares rose nearly 4% to a record closing high after a report revealed strong demand in the US and China for the tech giant’s new iPhone 17 series. According to Counterpoint Research, sales of the latest smartphones in the company’s two main markets during the first 10 days of their availability significantly exceeded the sales of the previous model.

Shares of server maker Super Micro Computer (SMCI) rose 5.5% as the technical analyst indicated the stock could form a bullish cup and handle pattern. While Supermicro has drawn attention to the massive opportunities related to AI infrastructure, the stock fell in August after the company missed sales and earnings forecasts in its latest earnings report.

Natural gas prices rose as forecasts of cold weather over the coming weeks boosted expectations for heating-related demand. Shares of Expand Energy (EXE), the largest U.S. natural gas producer, rose 6% to top the S&P 500 on Monday. Shares of natural gas company EQT Corp ( EQT ) rose nearly 5%.

Reports over the weekend highlighted intense regulatory scrutiny on ad tech company AppLovin (APP) following reports earlier this month that the Securities and Exchange Commission was investigating the tech company’s data collection practices. AppLovin stock fell 5.6% on Monday to lead declines in the benchmark index.

Shares of Oracle (ORCL) fell nearly 5% on Monday, extending last week’s losses after the enterprise software giant shared lofty goals at the Oracle AI World conference in Las Vegas. While the company is targeting strong AI-driven growth, several Wall Street analysts have raised concerns about the company’s capital spending plans and reliance on revenue from OpenAI.

Shares of hard disk manufacturers Seagate Technology Holdings (STX) and Western Digital (WDC) fell 4.9% and 3.7%, respectively. Analysts at UBS recently raised their price targets but maintained “neutral” ratings on the shares of the two data storage companies. The UBS team suggested that strong demand trends driven by AI infrastructure build-out through 2026 could give way to a potential cyclical contraction in 2027.