Stocks are set to make significant moves in the premarket on Thursday, with several big names in focus. Micron, Apple, Astera Labs, and Broadcom are among the companies making headlines before the opening bell.
Micron shares jumped 4% in premarket trading after the company reported better-than-expected earnings and revenue for the second quarter. The strong performance was attributed to robust demand for memory chips amid the global chip shortage.
Apple’s stock also saw a 1% increase in premarket trading following reports that the company plans to increase iPhone production by 20% in 2024. This news comes as Apple aims to capitalize on the growing demand for smartphones.
Astera Labs, a semiconductor company, is set to go public today with its initial public offering (IPO). The company priced its shares at $15 each, aiming to raise $100 million. Astera Labs specializes in connectivity solutions for data-centric systems and is expected to attract investor interest.
Broadcom, a global technology company, is in the spotlight after announcing a $20 billion share buyback program. This move reflects the company’s confidence in its future prospects and its commitment to returning value to shareholders.
Overall, the premarket movements of these stocks indicate the potential for significant market activity today. Investors will be closely monitoring these developments as they assess their trading strategies for the day.
