AMD, Microsoft, Meta, Palantir, and Other Tech Stocks in Focus Today
The mood in the tech sector has been markedly more positive this week and that optimism looked set to continue early Tuesday.
Futures on the Nasdaq 100 pointed 0.2% higher ahead of the open after the technology-heavy Nasdaq Composite Index jumped 1.1% Monday to snap a six-day losing streak.
The so-called Magnificent 7 helped the rebound push…
The mood in the tech sector has been markedly more positive this week and that optimism looked set to continue early Tuesday.
Futures on the Nasdaq 100 pointed 0.2% higher ahead of the open after the technology-heavy
jumped 1.1% Monday to snap a six-day losing streak.
The so-called Magnificent 7 helped the rebound push into a second day, with
up 1.2% and
rising 1.6%. Chip maker
plunged 10% Friday, before bouncing back 4.4% Monday.
Nvidia led the broader market comeback, but also the continued recovery in the chip sector Tuesday.
rose 1%,
was up 1.1%, and
edged 0.3% higher.
broke its own six-session losing run Monday and was on course to begin a winning streak, rising 0.6% in early premarket trading.
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stock edged higher after the tech giant unveiled a cost-effective, smaller artificial-intelligence language model called Phi-3-mini. The company said the smaller models can perform simpler tasks, making it easier for companies with limited resources.
Not every tech stock joined in the rebound, though.
stock pointed 0.3% lower after new research revealed iPhone sales in China dropped 19% in the first quarter.
Write to Callum Keown at callum.keown@barrons.com
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