Memory chip stocks fell after Chinese firm CXMT announced it will begin producing next-generation memory chips, pushing Sandisk down more than 5% and Micron down about 3%. eBay surged more than 5% after Morgan Stanley named it a top pick and raised its price target to $132. Meta Platforms gained over 3% on speculation of a new AI model codenamed Watermelon, while IonQ dropped more than 8% after acquiring cybersecurity firm Elisity for $1.3 billion. Optical and AI-related stocks saw profit-taking, with Ciena falling over 8% and Lumentum down 9%. Salesforce, Biogen, First Solar and SLM all rose after receiving rating upgrades from major investment banks.
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