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Arm Holdings surges while Qualcomm drops on Nvidia news, Brian Sozzi notes
Brian Sozzi, reporter / analyst at Yahoo Finance, reports sharp pre-market moves following Nvidia CEO Jensen Huang's Computex keynote.
Arm Holdings jumped 12%, ServiceNow rose 11%, Salesforce increased 7%, Hewlett Packard Enterprise advanced 6%, and HP Inc was up 4%. In contrast, AMD fell 4%, Intel dropped 6%, and Qualcomm declined 10%.
Sozzi previously shared Goldman Sachs' view that the rally in semiconductor stocks has outpaced recent earnings forecasts, according to a recent note. In a separate report, he highlighted Deutsche Bank comments on a potential OpenAI IPO that could raise $60 billion, valuing the company at more than $1 trillion following recent developments in the sector. These earlier updates provide context for the swift moves seen in semiconductor and technology stocks after Huang's keynote.
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