Chip Stocks Lift Nasdaq Futures As CoreWeave, Intel, Micron Rally Up To Over 6% Ahead Of Tech Earnings

Stock futures of Micron Technology, Corewaeve, Intel, SK Hynix and SanDisk rose up to more than 6%, in pre-market trade, as chip stocks saw a rebound supported by a drop in oil prices and Treasury yields. Nasdaq Futures were up 1.05% in pre-market trade. The stocks had faced concerns regrding profitability from investors which led to a a wide selloff in the previous week, amid increasing investor concerns of oversupply of chips, anticipated to take place in 2029, along with scrutiny around escalating borrowing costs of AI companies. ALSO READ: Bajaj Finance Q2 Results: Net Profit Rises 29%; AUM Surges…