Tech stocks were moving slightly higher early Wednesday as the sector attempted to turn around a bad week.
The technology-heavy
is rising 0.2% early Wednesday as the index looked set to snap a three-day losing streak.
is also hoping to snap a three-day losing run of its own. Shares were pointed 0.4% lower in early trading.
Chip stocks were in focus after Dutch semiconductor company
reported earnings early Wednesday. The stock fell 5% in European trading after the company’s orders missed expectations in the first quarter. ASML supplies the lithography machines that are essential for manufacturing semiconductors.
Shares of chip maker
Intel
,
one of ASML’s customers, were 0.8% lower.
a rival of the Dutch company, fell 3%. Other chip stocks were also under pressure as
fell 1% and
was down by 0.7%.
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stock, which surged 11% Tuesday after a bullish research note suggested shares could reach $1,500, edged 0.5% higher.
stock jumped 41%, after soaring 249% Tuesday as the audio tech company announced its fourth licensing deal with a major TV projection brand. The volatile stock remained 65% down in 2024 through Tuesday’s close.
’ oversight board said it is investigating two cases involving explicit AI-generated images of female celebrities, one that appeared on Instagram and one on Facebook. The board said it would decide whether the content should be allowed. The stock fell 0.5% early in the day.
Grand Theft Auto videogame maker
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will cut about 5% of its workforce and cancel some projects as part of a cost-saving plan, the company said Tuesday. It will incur total charges of up to $200 million and expects the measures to generate annual cost savings of $165 million. The stock pointed 0.7% higher.
Write to Callum Keown at callum.keown@barrons.com
