US stocks opened lower on Friday as investors continued to rotate out of technology stocks, with chipmakers facing renewed selling pressure despite strong recent earnings and upbeat demand forecasts. The Dow Jones Industrial Average was down 207 points points while the Nasdaq Composite dropped 0.95%. The S&P 500 declined 0.61%. The latest weakness comes after
Micron Technology’s MU shares fell sharply on Friday, giving up part of the gains recorded earlier in the week despite the memory chipmaker reporting stronger-than-expected quarterly results. The stock declined nearly 5% in premarket trading as weakness spread across the broader semiconductor sector. Other US chipmakers also traded lower, with Intel down just over 3%,
Jito (JTO) extended its recent rally after recording another strong trading session, with the token climbing nearly 12% in 24 hours to trade around $0.76. The move pushed JTO close to the top of its daily range of $0.6436 to $0.771 while lifting its monthly gain to more than 45%. The latest rally stands out
A bruising week for technology stocks has raised fresh questions about whether the artificial intelligence-fuelled market rally is becoming too volatile for comfort. A selloff that began on Monday gathered momentum throughout the week, rippling through markets from Seoul to Silicon Valley. Investors grew uneasy about the sheer scale of spending on AI infrastructure, the
ON Semiconductor shares plunged about 21% on Friday after the chipmaker announced a $7 billion acquisition of Synaptics, a deal aimed at strengthening its position in the emerging market for physical artificial intelligence. The sharp decline suggests investors remain cautious about the benefits and integration risks of the transaction despite management and several analysts describing
Figma’s stock price has imploded since its initial public offering (IPO) last year as the exuberance that fueled its private-market valuation collided with the realities of life as a publicly traded company. FIG dropped to $16 on Thursday, down sharply from the all-time high of $142. Private valuation and public reality Figma is one of
US consumer sentiment improved in June from near-record lows as declining gasoline prices and easing geopolitical tensions provided some relief to households still grappling with elevated living costs. The University of Michigan’s consumer sentiment index rose to 49.5 in June from 44.8 in May, exceeding economists’ expectations of a reading of 49, according to a
Nvidia stock (NVDA) fell again on Friday as a broader technology-sector selloff continued to pressure artificial intelligence stocks, leaving the chipmaker on track for its worst weekly performance in more than a year. The stock declined about 1.5% to $192.35 in early trading. If losses hold through the close, Nvidia would finish the week down
Western Digital stock has embarked on a major bull run this year, reaching its highest point on record on June 18. It has soared by 264% this year and 960% in the last 12 months, bringing its market capitalization to over $221 billion. While this rally may continue after the Micron earnings, WDC faces some
US stocks opened higher on Thursday, led by gains in technology shares as strong earnings updates from Micron Technology and Qualcomm reignited optimism around artificial intelligence demand. The Dow Jones Industrial Average was up 270 points or 0.52%. The S&P 500 and the Nasdaq Composite climbed 0.60%. Micron surged 19% in trading after reporting fiscal