Stock futures were diverging on Thursday, with investors rotating out of technology as the previous session's relief rally faded.

Qualcomm tumbled 9.8% in premarket trading. The semiconductor maker posted better-than-expected fiscal fourth-quarter revenue but warned of weaker margins ahead for its chip-design segment.

AppLovin was the S&P 500's best performer ahead of the opening bell, surging 15%. The advertising tech platform's third-quarter earnings beat analysts' estimates, which could help ease worries about AI disruption.

Snap dropped 9%. The Snapchat parent missed Wall Street's third-quarter revenue target, which CEO Evan Spiegel said was in part down to slow advertising sales growth.

Coherent climbed 2%. The optical networking company's fiscal first-quarter results beat expectations, which could ease investors' nerves after the midterms sparked fears of slowing data-center development.

Arm slid 4.1%. The British chip blueprint designer posted solid fiscal second-quarter results, but those were overshadowed by soft royalty revenue as soaring memory-chip prices hit the smartphone market.

Sony rose 5%. The Japanese entertainment and electronics company raised its full-year earnings guidance after the new Spider-Man film helped boost its fiscal second-quarter revenue.