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Micron, Marvell, and Broadcom lead chipmakers' premarket losses
Technology stocks fell in premarket trading Thursday, with chipmakers Broadcom, Micron Technology and Marvell Technology leading the losses as investors fled the semiconductor space. Broadcom shares were down 15.1% ahead of the market open after the company, which designs and makes customized AI chips for other technology names, reported weaker-than-expected earnings on Wednesday. The fall was part of a broader retreat from chipmakers and other tech stocks ahead of Thursday's market open.
AI Bubble Debate Gets Real as Chip Stocks Rally Turns Historic
Workers in the building 51 fab clean room at Micron Technology Inc. headquarters in Boise, Idaho, US, on Monday, June 10, 2024. The US announced in April its plans to award Micron Technology Inc. $6.1 billion in grants and as much as $7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing. Photographer: Kyle Green/Bloomberg
Analysis:How a nudge from Nvidia propelled frugal Micron into the AI boom and a $1 trillion market cap
Analysis:How a nudge from Nvidia propelled frugal Micron into the AI boom and a $1 trillion market cap SAN FRANCISCO, June 2 : Micron Technology's march toward a $1 trillion valuation is nothing if not dramatic: a year ago it was a little over $100 billion. That surge, though, was not built on its famed frugality, but on a nearly too-late push from Nvidia that pulled the U.S. memory chipmaker into the center of the AI boom. For decades, the Idaho-based company survived by building factories...
Chip selloff erases over $1 trillion in stock market value
Chip selloff erases over $1 trillion in stock market value June 5 : U.S.-traded chipmakers plunged on Friday, losing over $1 trillion in market value, with deep losses in AI heavy hitters including Nvidia, Micron Technology and Advanced Micro Devices, as Broadcom's weak report earlier this week reverberated across Wall Street. The PHLX chip index slumped almost 8.5 per cent in afternoon trading, putting it on track for its deepest one-day loss since Wall Street's "Liberation Day" tariff...
AI demand, earnings optimism lift tech giants' market value in May
AI demand, earnings optimism lift tech giants' market value in May June 2 : The world's most valuable technology companies with the exception of Alphabet added billions of dollars in market value in May, as upbeat earnings outlooks and strong demand for AI chips fuelled a rally in their shares. Apple, memory chipmakers Micron Technology, Samsung Electronics and SK Hynix led the gains, adding $598 billion, $512 billion, $481 billion and $377 billion, respectively, in market value. Their...
Top Wall Street analysts see robust growth potential in these 3 stocks
The latest earnings season has eased concerns about a potential artificial intelligence bubble. Increased spending by hyperscalers and other companies has reinforced confidence in the demand for AI infrastructure and software solutions. Investors keen on capitalizing on the AI boom can track recommendations from top Wall Street analysts, who give key insights into a company's ability to capture AI-driven demand despite macro uncertainties and rising competition.
Tech sell-off deepens as oil prices rise on renewed Iran tensions
Global stock markets fell on Wednesday, extending a volatile week driven by concerns about rising inflation, potential U.S. interest rate hikes, and escalating tensions in the Middle East. Asian shares mostly retreated on Wednesday after a sell-off in technology stocks on Wall Street, while oil prices climbed following fresh US airstrikes against Iran. The US military launched attacks early on Wednesday after an Army helicopter crashed near the Strait of Hormuz, an incident President Donald...
US stocks today: Wall Street mixed as tech stocks slide, Iran tensions weigh on sentiment
Wall Street's major indexes traded mixed to lower on Wednesday as investors grappled with a continued selloff in technology stocks, rising geopolitical tensions in the Middle East, and expectations that the Federal Reserve could keep interest rates elevated for longer. The S&P 500 was nearly flat after recovering from an early decline, while the Dow Jones Industrial Average fell around 0.5%. The Nasdaq Composite, heavily weighted towards technology stocks, also traded lower.
Why BlackRock's Rick Rieder feels 'a bit more relaxed' about AI bull market than dotcom era
Rick Rieder oversees roughly $2.4 trillion in assets for BlackRock. He has been at the world's biggest money manager for close to two decades now, and he has seen a lot take place in the market. But, he says, nothing like this.