US semiconductor stocks rebound Monday premarket after nearly $2T rout
Business
After a rough eight-session rout that wiped out nearly $2 trillion in value, US semiconductor stocks are making a comeback in Monday's premarket trading.
Lower Treasury yields and oil prices helped boost investor mood, with big names like Intel, NVIDIA, and AMD all seeing their shares rise.
J.P. Morgan upgrade lifts Intel shares
Intel was among the top gainers, jumping 4.2% after J.P.Morgan upgraded its rating, pointing to expected growth from AI demand and ongoing chip shortages.
NVIDIA and AMD also saw solid gains, while the main semiconductor ETF rebounded by 3.6% after last week's slump.
Other players like Marvell Technology and Broadcom joined the rally too.
With more earnings reports from tech giants on the way this week, all eyes are on where chip stocks go next.