SoFi, AMD, Robinhood, Salesforce, and Other Tech Stocks in Focus Today -- Barrons.com
Tech stocks were taking a hit early Wednesday as the sector's impressive rally lost some momentum amid broader market weakness.Futures on the Nasdaq 100 fell 0.7% early Wednesday after the technology-heavy Nasdaq Composite index hit another record close Tuesday, its 12th of the year.Nvidia stock, which has led the way in recent days, was 0.8% higher in premarket trading. Other chip stocks were under pressure, though, as Intel stock fell 0.7%, Advanced Micro Devices stock dropped 1.1%, Micron Technology stock was 1.2% down, and Qualcomm stock declined 0.7%.Artificial-intelligence stocks, including Super Micro Computer and Palantir Technologies, were also falling ahead of the open. SoFI Technologies stock looked set to continue its recent slump, slipping 1.5% early Wednesday. The stock is 31% down so far in 2024, and has fallen 5.6% since the beginning of April.Robinhood Markets stock jumped 2.1% after the online brokerage company said its board authorized a $1 billion share repurchase