SMH is trading at $585.29 (+2.42%) as Microchip Technology forecast quarterly revenue of $1.59-$1.62 billion, above estimates.
- The rally broadened across semiconductors, with Marvell and Micron also higher pre-market.
- Softer-than-expected payrolls supported rate-sensitive technology stocks, while Nasdaq futures led broader gains.
- The move reflects company-led sector optimism, AI-investment enthusiasm, and favorable market positioning.