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The S&P 500 and the Nasdaq rallied to record highs on Friday.
Micron Technology and Sandisk surged 12% due to strong AI data center demand.
KEY POINTS
- Philadelphia SE Semiconductor index gained 54% in Q2, driven by AI-related stocks.
- 83% of reporting S&P 500 companies exceeded analysts' earnings estimates, well above the 67% average.
- Cloudflare will cut 20% of its workforce after forecasting lower-than-expected Q2 revenue.
COMPANIES
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