SK Hynix IncConcerns that Apple and Microsoft price hikes could dampen chip demand, triggering a selloff in SK Hynix.
U.S. stock index futures declined as a renewed selloff in chipmakers weighed on the tech sector, with investors also awaiting comments from Federal Reserve officials. September S&P 500 E-Mini futures fell 0.51% and Nasdaq 100 E-Mini futures dropped 1.18%, led by pre-market losses in Sandisk and Micron Technology of over 5% and Western Digital of more than 4%. The weakness followed a selloff in Samsung Electronics and SK Hynix that triggered a second trading halt in Seoul within days, amid concerns that price hikes by Apple and Microsoft could dampen chip demand. A New York Times report that OpenAI may postpone its IPO until 2027 further pressured sentiment. WTI crude fell over 3% as traffic continued through the Strait of Hormuz, while the 10-year Treasury yield slipped two basis points to 4.38%. Investors are looking ahead to the final June reading of the University of Michigan consumer sentiment index and speeches from New York Fed President John Williams and Minneapolis Fed President Neel Kashkari.
SK Hynix IncConcerns that Apple and Microsoft price hikes could dampen chip demand, triggering a selloff in SK Hynix.
Micron Technology IncMicron shares fell over 5% on concerns that price hikes by Apple and Microsoft could dampen chip demand.
Sandisk CorpSandisk shares fell over 5% on concerns that price hikes by Apple and Microsoft could dampen chip demand.
Qualcomm Incorporated
Samsung Electronics Co LtdConcerns that Apple and Microsoft price hikes could dampen chip demand, triggering a selloff in Samsung Electronics.
Apple Inc.Apple's price hikes could dampen chip demand, indirectly affecting its own sales if higher prices reduce consumer spending.
Microsoft CorporationMicrosoft's price hikes could dampen chip demand, indirectly affecting its own sales if higher prices reduce consumer spending.
Synaptics Incorporated
Western Digital CorporationWestern Digital shares fell over 4% on concerns that price hikes by Apple and Microsoft could dampen chip demand.
Oracle Corporation
FuelCell Energy Inc
Nike Inc
Bio-Techne CorpNYT report that OpenAI may postpone its IPO until 2027, pressuring sentiment.