Premarket Movers | Chip, Storage Shares Drop with SOXL, SanDisk Down 2%; Cloud Service Stocks Fall with Nebius, CoreWeave Down 3% Each; ServiceNow Jumps Another 3%

TigerMay 19, 2026 8:32 AM

View all comments（0）



Chip, storage shares fell in premarket trading. SOXL, SanDisk, Wolfspeed, Microchip down around 2%; Seagate Tech, Western Digital down over 1%.

Cloud service stocks continued to fall in premarket trading after sharp declines in prior trading session. Nebius, CoreWeave down 3% each.

ServiceNow stock rallied another 2.88% after BofA Securities initiated coverage with a Buy rating and a $130 price target, representing a significant implied upside from the prior session’s close of $103.42.

The bank set its target based on 19 times its calendar year 2027 enterprise value-to-free cash flow estimate, describing ServiceNow as occupying a mission-critical position within enterprise workflows and arguing that its deep integration makes displacement costly — and that the company stands to benefit from new AI solutions rather than be replaced by them.

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Today’s Market Recap: Broadcom Plummets Over 12%, Weighing on the Chip Sector; Dow Hits New High Despite Market Trends; Bitcoin Approaches $61,000

TradingKey - Broadcom (AVGO) reported AI business earnings guidance that fell short of expectations, triggering a sell-off in tech and chip stocks as capital rotated into previously underperforming sectors such as healthcare and finance. Meanwhile, the Dow Jones Industrial Average bucked the trend t

Kospi Index Slumps Over 6% at One Point, Samsung Electronics Falls Over 7%, SK Hynix Drops More Than 9%, AI Bubble Fears Partially Erupt

TradingKey — During the Asia trading session on June 5, the Korea Composite Stock Price Index (KOSPI) saw its decline rapidly widen to over 6%. The Korea Exchange triggered a circuit breaker mechanism for the KOSPI after KOSPI 200 futures fell by 5%, suspending program trading for five minutes.

SpaceX Rival Blue Origin Not Out After Rocket Explosion. US Space Force Confirms It Remains Eligible for Core Launch Bidding.

Tradingkey - On June 4, a significant explosion involving Blue Origin failed to undermine its eligibility for core U.S. military launch bidding. The U.S. Space Force procurement arm stated that despite the "New Glenn" launch pad accident last week, Jeff Bezos's Blue Origin retains its certification for Phase 3 ("Lane 2") of the Pentagon’s National Security Space Launch (NSSL) program. The company will continue to compete against SpaceX and United Launch Alliance (ULA) for military launch contracts valued at tens of billions of dollars over the next five years.

US Pre-Market: Nasdaq Futures Lead Declines, Broadcom Slump Drags Down Chip Stocks

TradingKey - During the U.S. pre-market session on Thursday, June 4, the three major U.S. stock index futures diverged, with Nasdaq 100 futures leading the decline. Broadcom’s earnings report failed to meet high market expectations for AI chips, dragging down the semiconductor and AI infrastructure sectors. As of press time, Dow futures rose 0.79%, S&P 500 futures fell 0.4%, and Nasdaq 100 futures dropped 1.31%.

2026 Crypto Crash Causes: Why Bitcoin Prices Broke Through Key Levels? Future Trends and Key Support Level Predictions

The primary drivers of this sharp decline include the U.S.-Iran conflict fueling inflation and suppressing rate-cut expectations, MicroStrategy’s first-ever coin sale, and collective sell-offs by spot ETFs and whales. However, mining rigs are currently approaching shutdown levels, while the RSI and sentiment index have entered extreme oversold and panic territory, suggesting the market has hit production costs. The 60,000 level is expected to provide strong support.

Featured Tools