US stock futures edged lower on Friday after the major indexes declined in the previous session, pressured by a broad selloff in semiconductor stocks.
Investors also digested the latest corporate earnings, with Netflix plunging nearly 9% in extended trading after its results disappointed investors already concerned about slowing user engagement and intensifying competition from short-form video platforms. During Thursday's regular session, the tech-heavy Nasdaq Composite dropped 1.4%, while the S&P 500 and Dow Jones fell 0.51% and 0.2%, respectively.
Market participants are increasingly questioning whether the lofty valuations of AI-related chipmakers remain justified given the industry's aggressive growth expectations.
Micron Technology and AMD each slumped more than 5%, while SanDisk sank over 12%, Broadcom lost about 5%, and US-listed shares of SK Hynix tumbled more than 13%.