At least for now, U.S. large-cap technology and growth stocks appear “free of their difficult relationship with long-term yields,” according to DataTrek Research.

The company increased its R&D investment by 14% to $621 million and just reported Q3 FY24/25 results with revenue growing 20% year-over-year to $18.8 billion and net income more than doubling to $693 million. On top of that, it received a non-recurring income tax credit of $282 million in Q3.

Shares in Asia were mostly up Tuesday, with Chinese technology stocks surging after Chinese President Xi Jinping met with entrepreneurs this week in what is seen as a show of support to the technology industry.

U.S. stock indexes are wavering on Wall Street Wednesday. The S&P 500 was mostly unchanged, a day after setting an all-time high. The Dow Jones Industrial Average was down 122 points, or 0.3%, as of 12:18 p.

China’s technology stocks slumped Wednesday after a brief bull run earlier in the week. Alibaba’s Hong Kong-traded stock fell 1.03%, while search engine giant Baidu fell 2.11% after it reported a 2% drop in revenue for its fourth quarter compared to a year earlier as artificial intelligence rivalry heats up in China.

U.S. stocks crept to a record as the S&P 500 nudged higher after a quiet Tuesday of trading. The main measure of Wall Street's health rose 0.2% to finish just above its all-time closing high set last month.