U.S. stock market midday update: The quantum computing craze failed to boost Rigetti Computing's stock price, which fell by 7.98%

U.S. Stock Market Midday Update Rigetti Computing fell 7.98%. Based on recent key news: On December 26, Rigetti Computing's stock price dropped about 60% from its historical high, indicating market concerns about its future growth. The stock tested a key support level of $22.90 during trading, and if it breaks below this level, it may decline further. Source: Benzinga On December 25, overall bullish sentiment in the quantum computing sector drove related stocks up, but Rigetti failed to benefit from this. Analysts believe its fundamentals are still not solid enough. Source: Benzinga On December 24, market analysts did not list Rigetti among the top five recommended buy stocks, despite its rating being moderate buy; top analysts are more optimistic about other stocks. Source: MarketBeat The quantum computing industry is still in its early stages and highly volatile. Top Stocks by Industry Trading Volume Nvidia rose 1.92%. Based on recent news: On December 26, Nvidia agreed to acquire or license Groq's AI accelerator assets and absorb its core executive team. This is the company's largest deal to date, aimed at expanding its low-latency inference capabilities, pushing the stock price up by 1.6%. On December 26, Cantor Fitzgerald stated that Nvidia's licensing deal with Groq would enhance its leadership position in the AI market and further widen its competitive moat, driving the stock price up by 1.8%. On December 24, Bernstein released a research report stating that Nvidia's valuation is at a historical low, and the current price level is an excellent buying opportunity, reiterating its "outperform" rating with a target price of $275. Strong demand in the AI market makes the valuation attractive. Micron Technology fell 0.48%. Based on recent key news: On December 24, Micron Technology reported earnings that exceeded market expectations, driving the stock price up. Micron's earnings report showed its profits surpassed analyst expectations, attracting investor attention, and the stock price briefly hit a new high. Source: MarketWatch On December 25, the storage products market is in an upward cycle, driving fluctuations in Micron's stock price. Omdia predicts that AI demand will drive NAND prices up, with continued increasing demand for storage products in the market. Source: CNBC On December 26, Micron's stock price retreated after reaching a historical high, indicating market focus on its AI infrastructure. Micron's AI business attracts investors, but the stock price failed to maintain new highs. Source: Barron’s Strong demand in the storage market drives growth in AI. Broadcom rose 0.64%. Based on recent key news: On December 24, Broadcom is seen as a core arms dealer in the AI boom, with its stock price rising. Goldman Sachs analysts set a target price of $450 for Broadcom, emphasizing its dominant position in the custom chip sector Source: Zhitong Finance On December 25, Broadcom's networking business benefited from increased spending on artificial intelligence infrastructure, driving up its stock price. Analysts pointed out that Broadcom's price-to-earnings ratio is 26 times the expected earnings. Source: Zhitong Finance On December 25, Broadcom partnered with Google and Meta to reduce reliance on Nvidia, further boosting its stock price. Broadcom's market capitalization reached $1.6 trillion. Source: Zhitong Finance The semiconductor industry's growth expectations are strong, with significant capital inflows. Stocks Ranked High in Industry Market Capitalization TSMC rose 1.37%. Based on recent news, On December 26, TSMC's stock price increased due to Intel's failure to secure orders, making TSMC still the best foundry partner for Nvidia. This news boosted market confidence in TSMC, with the stock price briefly reaching NT$1,510. Source: Reuters On December 26, TSMC expects revenue to continue growing in 2026, driven by demand for AI inference, with the market anticipating its performance to reach a new historical high. Source: Zhitong Finance On December 26, TSMC Nanjing plant manager Luo Zhenqiu stated that the Nanjing wafer fab is operating normally, with no interruption risks, and customers can receive support for advanced global processes, alleviating market concerns about capacity constraints. Source: Kuai Technology Strong demand for AI, enhanced market confidence