Chip stocks surge on AI demand; AMC and Domino's report mixed earnings

21 July 2026 · Source balance: Centre

Wall Street rallied Tuesday as semiconductor stocks led gains, with Micron jumping 12.7 percent on the heels of positive export data from Taiwan and South Korea suggesting sustained AI infrastructure demand. The semiconductor-heavy Nasdaq advanced 1.3 percent, while the S&P 500 rose 0.9 percent. Among the stocks making headlines, Lumentum gained 4.5 percent after Barclays upgraded it to Overweight with a 1000 dollar price target, citing strong positioning in optical networking for data centers. In consumer names, AMC Entertainment surged 26.8 percent after beating earnings expectations with record Adjusted EBITDA of 321 million dollars. Domino's Pizza added 2.1 percent on revenue that beat targets, though U.S. same-store sales growth weakened to just 0.1 percent. Sweetgreen fell 6.1 percent as investors continued worrying about cyclosporiasis outbreak exposure, despite no confirmed connection to the chain. The market gains reflect ongoing confidence in AI's infrastructure buildout, though earnings remain mixed across consumer discretionary sectors.