U.S. Semiconductor Stocks Rise Premarket After Asia Rally
By Joe Stonor
U.S. chip and memory stocks rallied premarket following gains for artificial intelligence-related names in Hong Kong and South Korea.
Micron Technology shares rose 4.9%, or $36.50, while Arm Holdings rose 3% premarket.
Meanwhile, Santa Clara-based Marvell Technology shares jumped 5.4% premarket ahead of the chipmaker's first-quarter earnings release Wednesday. SanDisk and Qualcomm gained 2.9% and 2.5%, respectively.
The tech-heavy Nasdaq leads the major U.S. stock indexes premarket, rising 0.8%. The index has risen seven of the past eight weeks and closed Friday at its third highest level.
Chip stocks are catching up on gains made across the technology sector in Asia Monday as U.S. stock trading is set to return after the Memorial Day break.
Sentiment in the sector was boosted by apparent advances in peace talks between U.S. and Iran, though an exchange of strikes between the two sides saw stock futures pare some gains Tuesday.
Chinese chip stocks listed in Hong Kong rose after a new design approach from Huawei rallied optimism around the capability of local suppliers, with the Nasdaq-equivalent Hang Seng Tech index rising 1.8%.
In Korea, semiconductor stocks pushed the Kospi to an intraday record.
As well as a broader uplift in sentiment over the weekend, Micron received a boost from President Trump. Speaking at a New York rally shortly after market close Friday, Trump called Micron "great".
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
May 26, 2026 06:11 ET (10:11 GMT)
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