Mixed performance in tech stocks, Apple surges on partnership with OpenAI, Tesla drops on integration threat.

From “Nasdaq”: 2024-06-11 13:58:43

Tech stocks had a mixed performance on Tuesday, with XLK rising by 1.3% and XSD dropping by 0.1%. The Philadelphia Semiconductor index also fell by 0.1%. Meanwhile, the Biden administration is considering imposing new restrictions on China’s access to chip technology for artificial intelligence.

Apple shares surged by 6.2% following the announcement of a partnership with OpenAI and new product launches. On the other hand, Tesla’s Elon Musk threatened to ban Apple devices at his companies if they integrate OpenAI, leading to a 2.5% drop in Tesla’s shares. Spotify is planning to introduce a new, more expensive subscription plan later this year, offering better audio quality and new playlist management features. Spotify’s shares dipped slightly by 0.1%.



Read more at “Nasdaq”: Technology Sector Update for 06/11/2024: AAPL, TSLA, SPOT