By Stan Choe
Publication Date: 2026-11-03 21:32:00
A rebound for some influential Big Tech stocks lifted the U.S. market on Tuesday despite a drop for Apple and mixed trading elsewhere on Wall Street.
The Standard & Poor’s 500 rose 0.4%, even though most of the stocks within the index fell. The Dow Jones industrial average dropped 197 points, or 0.4%, and the Nasdaq composite climbed 0.8%.
The stock market has been shaky recently as technology and artificial-intelligence stocks swing on worries their prices shot too high in the frenzy around AI. Several of the most influential AI-related stocks were firmer Tuesday, which supported the market, after flipping from gains in the morning to losses in the afternoon a day earlier.
Nvidia rose 2.3% and was the strongest force pushing upward on the S&P 500. Close behind was another chip company, Broadcom, which rose 3.1%. Also boosting the market were several companies that are spending heavily on AI. Microsoft, Amazon and Meta Platforms all rose more than 2%.
Apple was long seen on Wall Street as a Big Tech company that’s less dependent on AI. But it’s still feeling the effects of the AI boom.
Memory chips for computers have become more expensive because of the demand created by the rush to build AI data centers. Those higher costs are hitting Apple, which said it expects to make less profit from each $1 of its revenue during the final three months of this year.
That helped send Apple’s stock down 1.9%, even though the seller of iPhones and Mac computers reported stronger…
