Global Chipmakers Rise as Micron's Strong Revenue Forecast Spurs Global Chip Stock Rally

  • 31 seconds ago
Global chip stocks rallied in early Thursday trading after Micron forecasted stronger-than-expected revenue guidance for its November quarter. The U.S. chipmaker estimated revenue nearly half a billion dollars above analyst estimates, propelling shares up 16% in premarket trading. The upbeat forecast lifted rivals, with Samsung Electronics and SK Hynix seeing shares rise 4% and 9%, respectively. Tokyo Electron saw an 8% rise, driven by CFO comments on AI-related sales growth, while SoftBank gained 4%. European chipmakers also surged on the AI optimism.

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