Major global chip stocks rally on Micron's 15% surge; ASML up 4%

  • 📰 CNBC
  • ⏱ Reading Time:
  • 13 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 46%
  • Publisher: 72%

Technology News

Semiconductor Device Manufacturing,Markets,Stmicroelectronics NV

Micron shares rose 15% in after-hours trade in the U.S. on Wednesday, sparking a rally

Global chip stocks rallied on Thursday after U.S. memory semiconductor maker Micron posted revenue guidance that topped expectations and boosted its share price.Dutch semiconductor equipment maker ASML rose more than 4% in early trade in Europe. Other names including ASMI, Be Semicondcutor and STMicro were also sharply higher.for its quarter ending at the end of November of $8.7 billion, plus or minus $200 million, ahead of estimates of $8.28 billion, according to LSEG data.

Micron's earnings highlighted that demand for data center chips are still strong as investors look for signs on whether a rally in AI-related stocks will continue. Micron reiterated that its HBM chips are sold out for 2024 and 2025.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines