Semiconductor gains and AI optimism drove major indexes higher on the last trading day of June, adding $110 billion to Apple’s market cap.
The Nasdaq Composite rose 1.1% Tuesday, led by a 3.6% jump in the iShares Semiconductor ETF, as chip stocks surged on AI infrastructure spending optimism. The S&P 500 gained 0.6%, while the Dow added 0.2%, though Honeywell’s 8.1% drop after a spinoff skewed its performance.
Apple’s 2.6% gain contributed $110 billion to its market capitalization, topping the S&P 500 and Nasdaq. Chip equipment stocks like Applied Materials and Intel rose 5% and 7%, respectively, following bullish analyst upgrades. SpaceX also climbed 4.1% on positive reports.
The rally reflected broad sector strength rather than isolated gains, with AI hype and corporate developments fueling investor sentiment. The Dow’s modest rise masked underlying strength due to Honeywell’s post-spinoff adjustment.