Chip stocks jumped in premarket trading. SOXL up 2.6%; ASML up 1.8%; Micron, Broadcom, Marvell up around 1%.
Broadcom is scheduled to report fiscal second-quarter earnings on Thursday. Citi Research's Christopher Danely raised his price target on Broadcom to $275 from $210 and reiterated a Buy rating, citing strong demand for AI processors.
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