TechFlow News, June 2nd: According to Bitget market data, U.S. equities opened with the Dow Jones Industrial Average down 0.4%, the S&P 500 down 0.18%, and the Nasdaq Composite down 0.2%. NVIDIA (NVDA.O) rose 0.6%; its NVIDIA Spectrum-X silicon photonics Ethernet technology has entered full-scale production. Marvell Technology Group (MRVL.O) surged 16% after Jensen Huang expressed confidence that it will become the next trillion-dollar company. Broadcom (AVGO.O) rose 5%; Morgan Stanley maintained its “Buy” rating and raised its price target. STMicroelectronics rose 10% after announcing an upward revision to its full-year revenue guidance for its data center business.
U.S. semiconductor and memory stocks broadly rallied: Marvell Technology (MRVL.O) rose 15.98%; NVIDIA (NVDA) rose 0.66%; Intel (INTC) fell 3.53%; Advanced Micro Devices (AMD) fell 1.52%; Broadcom (AVGO) rose 4.75%; Qualcomm (QCOM) fell 0.26%; Seagate Technology (STX) rose 0.31%; Western Digital (WDC) rose 1.80%; and SanDisk (SNDK) fell 1.96%.
Meanwhile, crypto-related stocks broadly declined: MicroStrategy (MSTR) fell 5.28%; Coinbase (COIN) fell 2.94%; Circle (CRCL) fell 3.13%; and SharpLink Gaming (SBET) fell 2.91%.
