Wall Street saw mixed moves in Tuesday's close, with Apple Inc. rallying after issuing a surprisingly strong revenue forecast for the third quarter. The tech giant projected sales growth of 14% to 17% for the period ending in June, even as it cautioned that memory-chip costs are rising and Mac supply constraints would persist for several more months. Shares of Apple climbed sharply in after-hours trading following the post-earnings conference call.
Oracle Corporation was another standout, soaring on robust cloud adoption and better-than-expected quarterly earnings. The database software giant reported accelerated growth in its cloud infrastructure segment, driving investor optimism.
On the downside, Roblox Corporation sold off sharply after the gaming platform posted user engagement metrics that fell short of analyst estimates. The stock declined as concerns about slowing growth weighed on sentiment.
Other notable movers included Chevron, which slipped after a "messy" quarterly result, and Riot Platforms, which traded higher amid strength in cryptocurrency-related stocks.