Tech stocks today: Tech stocks recover, as second quarter comes to a close

Tech stocks climbed Tuesday following last week’s sell-off that saw the Nasdaq Composite (^IXIC) drop 4.6% over five days. Memory supply chain bottlenecks that are driving up AI component costs and skepticism over enormous investments in artificial intelligence have rattled tech investors as markets near the midpoint of the year.

Apple (AAPL) stock recovered after it continued to face selling pressure on Monday following the company’s announced price hikes on MacBooks and iPads to offset higher memory costs. The supply crunch for memory chips has hit other hardware makers, too, including Microsoft’s (MSFT) Xbox.

Alphabet (GOOG, GOOGL) stock was largely flat after it jumped roughly 5% Monday as it joined the Dow Jones Industrial Average (^DJI), replacing Verizon’s stock in the blue-chip index.