Tech Stocks Fall, Chipmakers Lead Losses in Premarket Trading
Quick Look
- Technology stocks, particularly chipmakers like Broadcom, Micron, and Marvell, experienced significant drops in premarket trading Thursday.
- Broadcom shares plunged 14.6% following weaker-than-expected earnings, signaling a broader retreat from the semiconductor sector.
AI-generated summary
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 14.6% 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.
Micron Technology was down 6.2% in premarket trading, while Marvell Technologies had fallen 6.9%.
Elsewhere, Qualcomm shed 4%, with Intel falling 3.9%, and AMD down 4% ahead of the opening bell.
Futures tied to the tech-heavy Nasdaq were last seen 1.3% lower.
