🔴 Semiconductor ETF (SMH) is trading 1.6% down in pre-market as CXMT’s denser DRAM raises competition concerns

SMH is trading at $578.57 (-1.62%) as reports of Chinese chipmaker CXMT’s progress in denser DRAM stoke competition and pricing concerns across memory stocks.

• Micron and other memory names were under pressure pre-market. ASML’s sales narrowly missed expectations, though its outlook was stronger; shares were also lower pre-market.
• Broader indices and futures were mixed, with September CPI a key macro focus.