Why Palantir, Apple, and Micron Rallied Monday

With that arsenic a backdrop, artificial quality (AI) specializer Palantir Technologies (NASDAQ: PLTR) surged 4.6%, semiconductor supplier Micron Technology (NASDAQ: MU) jumped 2.6%, and iPhone shaper Apple (NASDAQ: AAPL) rallied 2.4%, arsenic of 11:52 a.m. ET connected Monday.

A memo was released by U.S. Customs and Border Protection precocious Friday, which granted a impermanent exclusion from the 145% tariffs connected definite electronics from China. The excluded products included smartphones, semiconductors, and chipmaking equipment. The determination appeared to beryllium a measurement successful the close direction, arsenic investors person feared that a protracted and far-reaching commercialized warfare could stifle the adoption of AI.

In effect to this move, Wedbush expert Dan Ives said that by taking this step, the White House "took the doomsday script disconnected the table, and tech stocks volition rally time arsenic investors tin present respire a suspiration of relief."

The certainty was short-lived, arsenic the Trump medication appeared to backpedal successful the days that followed. In an interrogation this weekend, Secretary of Commerce Howard Lutnick said the exemption was lone temporary, and tariffs would beryllium hitting electronics implicit the adjacent mates of months, which would see smartphones and computers.

President Trump sought to clarify his stance Monday morning, saying these products would not beryllium exempted, but instead, "they are conscionable moving to a antithetic Tariff 'bucket.'"

In a spot of late-breaking company-specific quality this morning, the North Atlantic Treaty Organization (NATO) announced successful a property merchandise that it had finalized the acquisition of Palantir's Maven Smart System, which would beryllium deployed astatine NATO's Allied Command Operations subject headquarters. The announcement noted that the merchantability was completed connected March 25.

Supreme Headquarters Allied Powers Europe (SHAPE) and NATO are utilizing Palantir's strategy arsenic a springboard to follow a scope of state-of-the-art systems, "including new, emerging AI models, and modeling and simulation."

Some investors feared that Palantir's aboriginal results could beryllium negatively affected by spending cuts by the U.S. Department of Defense. However, the ongoing propulsion for much businesslike and effectual warfighting capabilities by the U.S. and its allies suggests that Palantir could really beryllium a beneficiary of the modernization efforts by replacing antiquated systems with cutting-edge upgrades.