Nasdaq futures slipped 0.05%, while S&P 500 futures rose 0.31%.
The stock has faced pressure from profit-taking after a strong 12-month rally. Prominent investor Michael Burry’s bearish position has added to the negative sentiment surrounding the stock.
Investors are also watching rising competition from Chinese memory maker ChangXin Memory Technologies (CXMT), whose growing production has raised concerns about future memory pricing.
The stock is also trading below its 20-day and 50-day simple moving averages (SMAs), suggesting buyers have yet to regain short-term control. Until those levels are reclaimed, rallies could face resistance.
The mixed futures market also points to sector rotation rather than broad-based buying. In that…
