Tech stocks rose in early trading Monday, as Wall Street prepares on SpaceX’s (SPCX) first-ever quarterly earnings report after the bell on Tuesday.
The space and AI company’s stock has fallen nearly 30% from its $150 debut price, and investors are looking for any catalysts that could help turn things around.
AMD (AMD) will also report its results after the bell on Tuesday, providing a better look into the state of the AI chip market. Rival Intel (INTC) announced its earnings last month, topping analysts’ estimates on the top and bottom lines and issuing better-than-anticipated guidance for the current quarter.
Nvidia will report its results Aug. 26.
Elsewhere, Amazon’s (AMZN) market cap topped $3 trillion for the first time on Monday, and Microsoft (MSFT) stock continued to climb higher, after posting strong earnings results last week.