Dow Jones Futures: Apple, iPhone Chipmakers Near Buy Points In Market Rally; Didi IPO Set To Debut
Dow Jones futures tilted lower early Wednesday, along with S&P 500 futures and Nasdaq futures, after the stock market rally ended Tuesday with tiny gains.
Didi Global (DIDI), the world’s largest ride-hailing operator, is set to debut today. Late Tuesday, the Didi IPO priced at the high end of its narrow range, with former rival Uber Technologies (UBER) owning a big stake.
Apple stock has had a sluggish 2021, but is closing in on a buy point. Meanwhile, Apple (AAPL) iPhone chipmakers Qorvo (QRVO), Skyworks Solutions (SWKS) and Broadcom (AVGO) are nearing breakouts as well. SWKS stock and especially QRVO stock surged up the right side of bases Tuesday, helped by analyst price target hikes. They were Tuesday’s two best S&P 500 performers.
The moves by iPhone chipmakers comes as the chip sector has been strengthening once again.