Mixed Tech and Crypto Stocks on Earnings, Valuations
Stock futures opened mixed on Wednesday as stretched valuations in tech stocks, particularly in the AI sector, weighed on markets. AMD saw profit-taking after recent gains, while SMCI and ANET dropped sharply on weaker guidance and results. Digital Turbine (APPS) rose after beating earnings estimates and raising its forecast, and Rivian (RIVN) climbed on narrower losses, strong revenue growth and a reaffirmed outlook.
Crypto stocks also saw selling pressure amid Bitcoin futures declines. Crypto stocks including Coinbase (COIN), MicroStrategy (MSTR), Hive Digital (HIVE), Riot Platforms (RIOT), Marathon Digital (MARA) and Bitfarms (BITF) fell amid valuation concerns, interest-rate uncertainty and a murky global growth outlook, prompting potential volatility. Investors remain cautious as stretched valuations and rate uncertainties drive mixed tech and crypto stock moves.
Bearish
The mixed performance of crypto stocks, with leading names such as COIN, MSTR, HIVE, RIOT, MARA and BITF falling alongside Bitcoin futures, underscores a prevailing risk-off sentiment. Short-term, valuation concerns and interest-rate uncertainty have triggered profit-taking and selling pressure, likely sustaining downward momentum in crypto markets. Over the longer term, persistent high valuations and macroeconomic headwinds may continue to weigh on crypto assets, suggesting limited upside until clearer rate direction and growth signals emerge. Thus, the overall impact on crypto is bearish.