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An earnings beat and a return to profit drove an unusually large rally. Computing became SpaceX’s largest revenue business, but Starlink remained the main source of operating profit as AI investment kept capital needs high.
Meta disclosed an approved non-voting share structure after the close, opening another financing route while preserving founder-led voting control. Advertising growth remains strong, but capital spending exceeded operating cash generation and a major legal charge weighed on reported operating profit.
The agreement offers a path to easing production risk, though its benefit depends on coverage and implementation. Micron rose 2% alongside chip stocks, leaving it down 17% over the past 21 trading days.