Summary
- Micron Technology rose nearly 18% in premarket trading after reporting earnings that topped market expectations.
- Hardware supply-chain stocks including Corning (GLW), Applied Optoelectronics (AAOI) and Coherent (COHR) showed strength in premarket trading.
- Qualcomm forecast that annual revenue from the data-center AI components market will exceed $15 billion by fiscal 2029, and its shares rose 10% in premarket trading.
AI-related stocks were mixed in premarket trading in New York ahead of the release of key U.S. macroeconomic data. Micron Technology and Qualcomm surged, while major cloud stocks traded lower.
BlockBeats reported on June 25 that Micron rose nearly 18% in premarket trading after posting earnings that beat market expectations.
By contrast, shares of large cloud companies viewed as key Micron customers edged lower. Microsoft, Amazon, Meta, Apple and Google all traded weaker before the opening bell.
Hardware supply-chain stocks also gained. Optical communications company Corning (GLW) rose 6.81% in premarket trading, while Applied Optoelectronics (AAOI) climbed 3.59% and Coherent (COHR) added 4.08%.
Qualcomm also advanced. The company forecast that annual revenue from the data-center AI components market will exceed $15 billion by fiscal 2029, and its shares rose 10% in premarket trading.
Investors are also watching U.S. employment data and the core personal consumption expenditures price index due later in the day. The figures could influence sentiment on Wall Street and across other risk assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.