--- title: "U.S. stock market midday update: DNA X rises 20.08%, reverse split and new strategy boost market confidence, future growth expected?" type: "News" locale: "en" url: "https://longbridge.com/en/news/287392501.md" description: "DNA X rose 20.08%; SanDisk fell 1.93%, with a transaction volume of USD 8.761 billion; Apple rose 1.68%, with a transaction volume of USD 7.93 billion; Dell Technologies-C rose 16.24%, with a transaction volume of USD 3.156 billion; Seagate Technology rose 0.58%, with a market value of USD 182.6 billion" datetime: "2026-05-22T17:33:05.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287392501.md) - [en](https://longbridge.com/en/news/287392501.md) - [zh-HK](https://longbridge.com/zh-HK/news/287392501.md) --- # U.S. stock market midday update: DNA X rises 20.08%, reverse split and new strategy boost market confidence, future growth expected? **U.S. Stock Market Midday Update** DNA X rose 20.08%, with increased trading volume. Based on recent key news: 1. On May 20, DNA X announced its financial report, showing that its platform supports automated cryptocurrency trading strategies and plans to drive future growth through a commission model. This news boosted market confidence, leading to a rise in stock prices. 2. On May 20, DNA X announced that its legacy product revenue has ceased, and the current operational report shows no platform revenue, but early activities generated moderate other income. The company plans to operate DNA X in a limited capacity in 2026 to monitor stability and enhance functionality, driving stock prices up. 3. On May 20, DNA X conducted a 1-for-18 reverse stock split, resulting in an adjusted net income per share of $5.01, significantly higher than before, which enhanced investor confidence and pushed stock prices up. The cryptocurrency trading strategy is gaining attention, and market volatility has increased. **Top Stocks by Industry Trading Volume** SanDisk fell 1.93%, with increased trading volume. Based on recent key news: 1. On May 20, Citigroup raised SanDisk's target price to $2025 due to strong AI demand and long contracts supporting high profit margins. This move boosted stock prices, indicating increased market confidence in SanDisk. Source: Zhitong Finance 2. On May 22, SanDisk's stock price rose nearly 7% due to NVIDIA's strong AI performance and analysts upgrading their ratings. This event indicates that market demand for AI-related products continues to grow. Source: Jinshi Data 3. On May 20, SanDisk announced a $6 billion share buyback plan, enhancing shareholder confidence and driving stock prices up. This plan reflects the company's optimistic expectations for future performance. Source: Caixin AI hardware demand is strong, with significant capital inflow. Apple rose 1.68%, with increased trading volume. Based on recent key news: 1. On May 22, Apple requested the U.S. Supreme Court to review its legal dispute with Epic Games regarding the App Store's commission policy. This move may affect Apple's legal standing and market confidence, leading to stock price fluctuations. Source: MarketBeat 2. On May 20, Apple lowered the price of the iPhone 17 model in the Chinese market, just before the "618" shopping festival. This move aims to increase market share and stimulated market demand, pushing stock prices up. Source: Zhitong Finance 3. On May 20, Apple announced that it prevented over $2.2 billion in potential fraudulent transactions in 2025, demonstrating its ongoing investment in security and trust, which enhanced investor confidence. Source: Apple official website The industry is highly competitive, with intensified market share competition. Dell Technologies-C rose 16.24%. Based on recent key news: 1. On May 22, Evercore ISI listed Dell as a preferred stock, believing that its strong demand and high average selling price will drive performance beyond expectations. Evercore ISI pointed out that demand for AI infrastructure and networking continues to grow, and Dell is expected to report better-than-expected performance and raise its full-year guidance Source: Investing.com 2. On May 22, Wells Fargo raised the target price for Dell Technologies from $180 to $270, reflecting market confidence in its future growth potential. Source: Wells Fargo 3. On May 21, Morgan Stanley warned that hardware stock valuations have peaked, with a positive short-term outlook for Dell, but caution is needed regarding the risk of downward revisions to earnings expectations in the second half of the year. Source: Morgan Stanley AI demand drives hardware stocks up, risks need to be monitored. **Stocks ranked among the top in industry market capitalization** Seagate Technology rose 0.58%. Based on recent key news: 1. On May 21, Seagate Technology announced it had signed exchange agreements with certain noteholders involving $185.908 million of exchangeable senior notes. This move aims to reduce leverage and interest expenses through "debt-to-equity" swaps, driving up the stock price. 2. On May 21, Seagate Technology reported its third-quarter financial results, with revenue reaching $3.11 billion and a record high gross margin. Strong performance boosted market confidence, leading to a rise in stock price. 3. On May 20, analysts held an optimistic view on Seagate Technology's future performance, expecting AI demand to continue driving up storage prices, further supporting the stock price. 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