Micron, Nvidia, AMD lead chip stocks rebound

Semiconductor stocks rebounded in premarket trading Tuesday, with the PHLX Semiconductor Index (^SOX) moving higher as major chipmakers were on pace to recover from steep losses. Shares of memory chipmaker Micron Technology (MU) jumped 4%, reversing some of Monday's 7% decline. Peer SK Hynix (SKHY), along with memory and storage names Sandisk (SNDK), Seagate (STX), and Western Digital (WDC) were also poised to open higher. AI chipmakers Nvidia (NVDA) and AMD (AMD) also rallied 2% and 4%, respectively. AMD shares erased some of their 7% losses from the prior session, ahead of the company's quarterly results due after the closing bell Tuesday.