A renewed wave of optimism swept through semiconductor stocks late on Wednesday after upbeat forecasts from Micron Technology and Qualcomm reignited confidence in the artificial intelligence (AI) trade, adding more than $400 billion to the combined market value of chipmakers, according to Reuters.
Micron Technology led the rally, surging 12% in extended trading after projecting quarterly earnings above Wall Street expectations. According to Reuters, the company's stronger-than-expected outlook reflects robust demand for memory chips as technology firms continue investing heavily in AI infrastructure and next-generation data centers.
