Shares of technology companies fell as earnings failed to live up to sky-high expectations, despite lucrative AI activity.

Taiwan Semiconductor Manufacturing shares plunged after the contract chipmaker hinted that it would soon raise prices, and despite reporting voracious demand for chips supporting artificial-intelligence applications.

Micron Technology has reached a preliminary agreement with the Commerce Department to receive $6.1 billion in funds under the CHIPS and Science Act to build out a planned new memory chip plant in upstate New York and to expand existing facilities in Boise, Idaho.

Apple is making a push to win over corporate customers to its Vision Pro "mixed-reality" headset, made available in the U.S. earlier this year. But it faces the same challenges as its predecessors -- pitching a "face computer" experience that hasn't yet clicked with a wide business audience.

Alphabet's Google said it fired 28 employees who protested this week against the tech giant's cloud-computing contract with the Israeli government.

Write to Rob Curran at

(END) Dow Jones Newswires

04-18-24 1748ET