US stock futures hit the buffers on Wednesday as AI disruption fears continued to fuel a shift out of high-flying technology names, with gold and silver once again marching higher.
Contracts on the tech-heavy Nasdaq 100 futures (NQ=F) slipped 0.2%, while those on the S&P 500 (ES=F) traded broadly flat. But Dow Jones Industrial Average futures (YM=F) nudged 0.1% higher as investors continued to rotate out of growth into value stocks.
Tech stocks bore the brunt of the selling on Tuesday, with Nvidia (NVDA) and Microsoft (MSFT) each closing over 2% lower. Overall, the tech sector posted losses in the S&P 500 of more than 2%.
Adding to the downbeat tone in premarket, Advanced Micro Devices (AMD) shares slid more than 7% as investors reacted negatively to its first-quarter outlook. Elsewhere on the earnings front, Chipotle (CMG) shares tumbled nearly 7% after the restaurant chain reported another quarter of declining customer traffic and warned that same-store sales growth could stall in 2026.
Next up for tech insight are Alphabet (GOOG) and Arm Holdings (ARM), both set to report Wednesday, with Eli Lilly (LLY) another highlight. Amazon (AMZN) is scheduled to release results on Thursday, as the week’s busy stretch of earnings rolls on.
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Super Micro stock jumps after raising annual revenue forecast
Super Micro Computers’ (SMCI) stock jumped 11% before the bell on Wednesday after the server maker raised its annual revenue forecast on Tuesday, citing continued strong demand for its AI servers, driven by companies expanding their data centre capacity.
Reuters reports:
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Enphase jumps after earnings top analysts estimates
Enphase Energy (ENPH) stock soared 20% during premarket hours after the company’s profit and revenue beat analysts’ estimates. The technology company’s shares have risen 10% over the past month, but are down almost 42% for the year.
The AP reports:
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Chipotle stock sinks after company reports Q4 same-store sales drop 2.5%
Chipotle (CMG) stock dropped 5% in during premarket trading on Wednesday. The burrito-bowl chain said on Tuesday afternoon that same-store sales fell in the fourth quarter and told investors it expects no sales growth in 2026 as it continued to navigate a decline in traffic.
Yahoo Finance’s Brooke DiPalma reports:
Read the full earnings story here.
Indian tech stocks plunge as Anthropic AI tools spark workforce concerns
Reuters reports:
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Nvidia reportedly nearing end to $20 billion investment deal into OpenAI
Bloomberg reports:
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