Stock Market Today, May 27: Micron Extends Rally on AI Chip Momentum, U.S. Markets Inch Higher
The S&P 500 (SNPINDEX:^GSPC) inched up 0.03% to 7,521.29, the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.07% to 26,674.73 on lingering chip enthusiasm, and the Dow Jones Industrial Average (DJINDICES:^DJI) rose 0.36% to 50,644.28, closing at another record on rotation into blue chips.
Market movers
Micron extended its trillion‑dollar run, continuing to symbolize the AI‑driven chip surge, while Constellation Energy slid nearly 4% after an analyst reset valuation.
Among consumer names, Lululemon Athletica gained as it agreed to a “standstill agreement” with founder Chip Wilson, which allowed for the board to be restructured. Meanwhile, Dick’s Sporting Goods fell after the company raised full-year adjusted EPS estimates but lowered its outlook for sales in 2026.
What this means for investors
It was a mixed day across the market today. AI-powered advertising technology firm AppLovin was the biggest winner in the S&P 500 today, with its stock up 10% after an analyst at Morgan Stanley issued a bullish outlook. The analyst noted that if AppLovin’s conversion rates continue to improve, an $1,100 share price isn’t out of the question for the stock by 2030 -- nearly a double from its $570 level today.
Today’s biggest loser was medical device maker Boston Scientific, which presented at an investor conference and reiterated that its full-year guidance would remain weaker than hoped. The company’s WATCHMAN device -- once seen as a growth catalyst -- is projected to deliver flat sequential sales growth in Q2 and Q3, prompting today’s negative reaction.
Lastly, cloud-based data platform Snowflake is up roughly 35% after hours as the company delivered blowout Q1 earnings that included 33% sales growth, a $6 billion deal with AWS, and the planned acquisition of Natoma, an enterprise Model Context Protocol (MCP) platform for AI agents.
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Josh Kohn-Lindquist has positions in Snowflake. The Motley Fool has positions in and recommends Constellation Energy, Lululemon Athletica Inc., Micron Technology, and Snowflake. The Motley Fool has a disclosure policy.
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