U.S. stock market opens: Nasdaq 100 Index rises 0.3%, Philadelphia Semiconductor Index rises 0.5%

The S&P 500 Index opened up 10.56 points, an increase of 0.18%, at 5984.63 points;
The Dow Jones Industrial Average opened up 9.53 points, an increase of 0.02%, at 42916.48 points;
The Nasdaq Composite Index opened up 53.59 points, an increase of 0.27%, at 19818.48 points.
Broadcom rose 2.7%, AMD rose 1.3%, Tesla rose 1.1%, Meta rose 0.2%, Apple rose 0.1%, and TSMC ADR fell 0.6%. Chinese concept stocks XPeng, Alibaba, and NetEase rose over 1%, and the Chinese concept ETF YINN rose 2.9%.
Investment bank Wedbush stated that Apple's newly launched iPhone 16 series will see a strong holiday sales season this year; it reiterated its "outperform" rating on Apple, with a target price of up to $300, corresponding to a total market capitalization expectation of up to $4.5 trillion.
Citigroup listed Meta, Amazon, and DoorDash as its "favorites" in the internet sector, as these companies will be in a multi-year product cycle by 2025. Citigroup raised Meta's target price from $705 to $753, raised Amazon's target price from $252 to $275, and set DoorDash's target price at $211.
Meta plans to integrate a display into the Meta Ray-Ban smart glasses by 2025, which will prompt notifications and replies from the Meta virtual assistant, with an overall price expected to be $300