Futures for the S&P 500 index rose modestly early Wednesday morning. Apple ( AAPL ) and Microsoft ( MSFT ) dipped just below buy points on Tuesday, while fellow Dow stock Intel ( INTC ) continued to power ahead, closing within 1% of an entry. After the close, Micron Technology ( MU ) rallied on strong earnings, suggesting the memory-chip giant will offer a buying opportunity Wednesday.

[ibd-display-video id=3033192 width=50 float=left autostart=true] S&P 500 index futures rose 0.25% vs. fair value. So did Dow futures. Nasdaq 100 futures were up 0.2%.

Apple

Apple fell 1.1% to 174.54 in Tuesday's stock market trading . The iPhone giant just moved above a 176.34 base-on-base buy point on Monday, though volume was only slightly above normal.

On Tuesday, Nomura downgraded Apple to neutral and cut its price target to 175 from 185, saying that the stock's gains from the iPhone X are in the "late innings."

Microsoft

Microsoft cleared an 86.30 flat-base entry on Friday on strong volume that was likely influenced by triple-witching expirations. But shares have drifted lower the last two days, dipping 0.6% to 85.83 on Tuesday.

Intel

Intel has gone the other direction, leading the Dow industrials' gains for a third straight session, surging 8.7% over that stretch, including a 1.7% rise to 47.04 on Tuesday, just below a 47.40 buy point.

Intel kicked off its recent run with a 3%, high-volume rebound from its 50-day moving average. That normally would be a clear buying opportunity, but the triple-witching impact meant that investors couldn't know how much true institutional conviction buying was happening. However, shares have kept sprinting higher in active trade.

Micron Technology

Micron Technology earnings surged 566% in the November quarter vs. a year earlier, easily beating views. Sales leapt 71%, also topping forecasts. And the memory chip giant gave bullish guidance.

Micron rose 24 cents to 43.95 in the regular session, just above its 50-day line. In late trading, Micron rose 4.5%. If that carries over to Wednesday's session in heavy volume, it would offer an entry point for investors.

Keep in mind that overnight action often doesn't translate to regular-session trading.

Other Late Earnings

FedEx ( FDX ) rose modestly late on strong earnings , while RedHat (RHT) fell despite topping views . Recent IPO Stitch Fix (SFIX) tumbled despite a beat-and-raise report .

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.