Live Nasdaq Composite: Nasdaq Snaps Back as Chip Stocks Rebound and AI Tailwinds Hold Firm

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Citi's Bullish Market Call

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Citi is planting its flag firmly in the bull camp, lifting its year-end S&P 500 target to 8,100 from 7,700, a call that implies more than 9.Citi is planting its flag firmly in the bull camp, lifting its year-end S&P 500 target to 8,100 from 7,700, a call that implies more than 9.5% upside from Friday’s close. Strategist Scott Chronert is projecting S&P 500 earnings of $350 per share in 2026, climbing to $400 in 2027, with the AI buildout serving as the primary engine behind the upgrade. “AI tailwinds are fueling an episodic fundamental surge across related sectors,” Chronert wrote. “We have high confidence in continued earnings beats through year-end.” The raised target puts Citi in line with the growing chorus of Wall Street firms betting that artificial intelligence spending will keep corporate profit growth running well ahead of broader economic headwinds.

This article will be updated throughout the day, so check back often for more daily updates. 

The Nasdaq Composite is mounting a comeback Monday after suffering its worst single-session decline since April 2025, with Nasdaq 100 futures jumping 1.6% in early trade as chip stocks shake off Friday’s brutal selloff and investors move back into the names they were dumping just 72 hours ago. S&P 500 futures are up 0.8% and Dow futures are adding 135 points, or 0.3%, as the broader market finds its footing heading into a new week.

The chip sector is leading the charge. Micron Technology (NASDAQ:MU) is bouncing more than 5% in premarket trading after cratering 13% on Friday, while Nvidia (NASDAQ:NVDA) and Broadcom (NASDAQ:AVGO) are also reclaiming ground. The iShares Semiconductor ETF is tracking 4% higher after its worst single day in more than six years on Friday, when the Nasdaq shed 4.2% as investors pulled back on concerns that valuations had stretched beyond what the uncertain economic backdrop could support. Morgan Stanley’s Mike Wilson characterized the Friday selloff as “ultimately healthy,” maintaining his 8,000 price target on the S&P 500, which would imply more than 8% upside from last week’s close.

Oil is back in the conversation, with Brent futures spiking as high as $98 a barrel after Iran and Israel exchanged strikes overnight, though prices are holding just below the $100 threshold that has served as a key psychological level throughout the conflict. President Trump is working to keep the ceasefire framework intact, but the overnight escalation is a reminder that geopolitical risk remains an active variable for a market that is still finding its footing after last week’s volatility.

Here’s a look at where things stand as of pre-morning trading:

Dow Jones Industrial Average: 50,990 Up 0.11%
Nasdaq Composite: 29,575 Up 1.89%
S&P 500: 7,463 Up 0.85%

Market Movers

Amazon (NASDAQ:AMZN | AMZN Price Prediction) has inked a multibillion-dollar supply agreement with Corning (NYSE:GLW), tapping the glass and fiber specialist to deliver the optical fiber, cable, and connectivity solutions running through Amazon’s growing U.S. data center footprint. Of the partnership, AWS CEO Matt Garman stated, “This multibillion-dollar agreement with Corning continues that commitment, channeling investment into American manufacturing and creating 1,000 new jobs at their facilities near our data centers.”

Alphabet’s Google (Nasdaq: GOOGL) and Nvidia (Nasdaq: NVDA) are quietly exploring Intel (NASDAQ:INTC) as a backup chip manufacturer for their most advanced processors, according to The Information, as overwhelming demand continues to strain Taiwan Semiconductor’s production capacity. The development hands Intel a potential opportunity to reclaim relevance in cutting-edge chip fabrication at a moment when the AI buildout is pushing the entire supply chain to its limits.

Cantor Fitzgerald more than doubled its price target on Micron Technology (NASDAQ:MU) Monday, lifting the figure to $1,500 from $700 while keeping its “overweight” rating, a revision that reflects the firm’s conviction in the memory chipmaker’s trajectory as AI-driven demand continues to rewrite the supply and pricing dynamics across the sector.