US Stock Outlook: Tech Enthusiasm Continues, Nasdaq Futures Up 0.44%

US Stock Futures Mixed Ahead of Friday Trading

US stock index futures showed mixed results on Friday morning. The Dow futures fell by 0.02%, while the Nasdaq futures rose by 0.44%, and the S&P 500 futures increased by 0.13%.

Pre-Market Movements in Tech Stocks

Notable tech stocks saw collective gains in pre-market trading:

• Micron Technology (MU) surged over 5%.
• Advanced Micro Devices (AMD) rose more than 2%.
• ASML increased nearly 2%.

Mixed Performance Among Chinese Stocks

Chinese stocks had varied performances in pre-market trading:

• United Microelectronics Corp (UMC) jumped nearly 6%.
• NIO and Pinduoduo (PDD) both rose over 1%.
• Trip.com (TCOM) continued its decline, dropping over 2%.

Space Sector Stocks Rally

The space sector saw significant gains:

• AST SpaceMobile (ASTS) soared over 7% after being selected as a primary contractor for the US Missile Defense Agency's "Shield" program.
• Redwire (RDW) rose over 4%, while Rocket Lab (RKLB), Planet Labs PBC (PL), and EchoStar (SATS) each gained nearly 3%.

Semiconductor Sector Continues to Rise

The semiconductor sector remained buoyant following TSMC's better-than-expected earnings report:

• Photronics (PLAB) increased over 5%.
• Lam Research (LRCX), Applied Materials (AMAT), KLA Corporation (KLAC), and Amkor Technology (AMKR) all rose over 2%.

Storage Chip Stocks Surge

Storage chip stocks are seen as a strong bet, with a well-known fund manager stating that the market has underestimated AI demand. Pre-market movements included:

• Micron Technology (MU) and SanDisk Corp (SNDK) both up over 5%.
• Western Digital (WDC) and Seagate Technology (STX) rose over 4%.

Intel's Positive Outlook

Intel saw a pre-market increase of nearly 1% after Citigroup upgraded its rating from "Sell" to "Neutral," setting a target price of $50. Analysts believe Intel will benefit from TSMC's capacity constraints and has a unique opportunity to attract foundry customers.

Apple and Google AI Collaboration

Apple announced a significant AI partnership with Google, opting for the Gemini model to enhance iPhone functionalities and improve Siri. This deal, potentially worth $50 billion, poses a challenge to OpenAI, which has been integrating ChatGPT with Apple's features.

Legal Battle Between Musk, Microsoft, and OpenAI

Elon Musk's legal battle against Microsoft and OpenAI is advancing to trial, indicating an impending courtroom showdown.