Stock Market Update

[BRIEFING.COM] The major averages are little changed from previous levels, sitting with modest gains at midday. 

Intel (INTC 42.54, -2.54, -5.62%) is the worst-performing S&P 500 name today, suffering from an extension of last week's post-earnings weakness. The stock topped earnings estimates but delivered disappointing Q1 guidance, causing a sharp pullback after a massive run-up. 

Micron (MU 390.20, -9.45, -2.36%) also moves lower following a Reuters report that Samsung Electronics (SSNLF) plans to begin mass production of its next-generation HBM4 chips as early as next month.

Samsung has reportedly passed critical qualification tests for both NVIDIA (NVDA 187.02, -0.65, -0.35%) and Advanced Micro Devices (AMD 252.85, -6.83, -2.63%), marking a high-velocity "comeback" after the company stumbled behind its rivals during the previous HBM3E cycle.