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U.S. stocks opened higher in a modest risk-on move, led by AI\u2011linked storage names like Micron and Western Digital, even as PayPal dropped about 10% on weak profit guidance.<\/p>\n
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U.S. equities opened in the green, with the Dow up 0.45%, the S&P 500 up 0.57%, and the Nasdaq up 0.76%, reflecting a modest risk-on tone across blue chips, large-cap growth, and tech.<\/p>\n
The move comes after a choppy few weeks in which investors have been trading off between hotter-than-expected inflation prints and strong earnings from mega-cap tech, leaving the major indexes near recent highs but with elevated single-stock dispersion.<\/p>\n
Early breadth favored cyclical and tech-linked sectors, as storage, semiconductors, and some AI beneficiaries outperformed, while selected consumer and fintech names traded lower on stock-specific news.<\/p>\n
Storage concept stocks continued their recent outperformance, led by Micron Technology, which was up around 6% in early trading, alongside SanDisk, higher by roughly 3%, and Western Digital, up about 3.5%.<\/p>\n
Earlier in April, memory and storage names saw similar surges\u2014Micron climbing as much as 10% intraday, SanDisk nearly 10%, and Western Digital more than 8%\u2014as markets increasingly treated them as AI infrastructure plays rather than purely cyclical PC components.<\/p>\n
Analysts cited by TradingKey and other outlets argue that long-term demand from AI servers, hyperscale data centers, and high\u2011bandwidth memory is prompting investors to re-rate storage companies, with each positive earnings surprise or guidance update reinforcing that thesis.<\/a><\/p>\n Against that backdrop, PayPal opened sharply lower, dropping around 10% after releasing quarterly results and guidance that underwhelmed the market.<\/p>\n Reuters reports that the company\u2019s latest profit outlook for 2026 points to flat-to-low-single-digit adjusted earnings growth, well below Wall Street expectations of roughly 8%, while recent quarterly revenue and EPS also came in shy of consensus.<\/p>\n <\/p>\n The stock has already been under pressure this year\u2014hitting a 52\u2011week low near $39.95 in February and sitting roughly 49% below year-ago levels\u2014amid skepticism over its ability to reaccelerate branded-checkout growth and fend off competition from Apple Pay and other digital wallets.<\/p>\nPayPal dives 10% post-earnings<\/h2>\n