Premarket: Chip Stocks Extend Overnight Rally; Crypto Names Surge

US premarket trading on July 21 saw chip stocks carry forward their overnight momentum, while crypto-related equities posted broad-based gains. TSMC climbed over 3% in overnight trading, Micron Technology surged over 4%; MARA jumped over 9%, and Cipher Digital rallied nearly 17%. Select megacap tech names came under pressure, with Apple and Oracle both sliding over 2%.

Across the tape, the semiconductor space was active in the overnight session, with AI chip-related names drawing notable fund flows. Crypto stocks strengthened across the board, with Bitcoin mining equities leading the charge. In the eVTOL space, Archer Aviation soared nearly 20%, lifting peer Joby Aviation more than 3% in sympathy.

Chip Stocks Rally in Overnight Trading; TSMC Up Over 3%

TSMC (TSM) advanced 3.03% in overnight trading; Micron Technology (MU) surged 4.77% with turnover reaching $499 million; SK Hynix (SKHY) jumped 5.50%; AMD gained 3.48%. Nvidia (NVDA) edged up 0.23% in premarket to $203.28 on volume of 88.7 million shares; Intel (INTC) rose 2.13% to $97.06.

On the news front, TSMC's previously announced $100 billion US investment plan continues to bolster market confidence, with investors upbeat about the company's leading position in AI chip foundry services. Both Micron and SK Hynix are benefiting from robust demand for HBM high-bandwidth memory, as AI infrastructure expansion drives growing chip orders. Jim Cramer reiterated his bullish stance on Nvidia and Intel, highlighting their dominance in AI infrastructure and rebound potential.

Crypto Stocks Rally; MARA Surges Over 9%

As of premarket, MARA (MARA) surged 9.17% to $11.67 on volume of 61.09 million shares; Cipher Digital (CIFR) soared 16.97% to $20.54; IREN jumped 19.57% to $40.20. The sector saw heavy turnover overall, with several names ranking among the most actively traded stocks across the market.

eVTOL Names Strengthen; Archer Aviation Up Nearly 20%

Archer Aviation (ACHR) surged 19.59% in premarket to $5.31 on volume of 99.25 million shares; peer Joby Aviation (JOBY) rose 3.32% to $7.47. The synchronized rally in both flying-car companies drew significant market attention.

Elsewhere, AMC Entertainment (AMC) skyrocketed 26.80% to $2.46 on volume of 187 million shares, ranking among the most heavily traded names in the premarket session. Among megacap tech, Apple (AAPL) fell 2.14% to $326.59, Oracle (ORCL) dropped 3.98%, and Netflix slipped 1.96%. Bill Ackman's latest commentary noted that despite their massive scale, both Meta and Amazon remain "cheap stocks" and "durable compounders."