What happened: Intel (INTC), Micron (MU), and Sandisk (SNDK) stocks bounced back for a second day in a row on Wednesday. AMD (AMD), Marvell (MRVL), and Arm Holdings (ARM) also gained in premarket.
What’s behind the move: Semiconductor stocks rose in anticipation of Nvidia’s (NVDA) quarterly results as shares of the artificial intelligence chip heavyweight rebounded by more than 1%.
The semiconductor complex came back from a broader sell-off driven by rising bond yields and growing inflation fears. Memory and storage stocks like Micron and Sandisk also recovered from recent profit-taking by investors following an epic run.
What else you need to know: The market rally to recent all-time highs has been led by the semiconductor space.
All eyes will be on Nvidia earnings on Wednesday after the bell. Viewed as the bellwether for the AI complex, investors will be watching for signs that hyperscalers are still spending aggressively on infrastructure, Nvidia continues to meet that demand, and gross margins remain robust.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
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Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: finance.yahoo.com
