South Korea · Qualcomm · Broadcom · Intel · Iran · CNBC Technology
Micron shares are rising again despite weak overall market
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Micron has become a standout favorite during the ongoing memory chip rally as tech companies scramble to secure supply amid shortages.
Key facts
- SK Hynix rose more than 11% and Samsung Electronics rose more than 6% in trading on Monday, according FactSet
- Shares of Micron were up 9% in morning trading as the S&P 500 was unchanged
- Intel was up more than 6% and Qualcomm was up more than 12% before both stocks pared initial gains
- Accordingly, profit expectations in the chipmaking sector are growing wider, with Micron, SanDisk and Broadcom all projecting gross margins above 75% for 2026, according to FactSet
Summary
The stock is up yet again on Monday even as the overall market is sagging on rising energy prices and concerns of renewed fighting between the US and Iran. Shares of Micron were up 9% in morning trading as the S&P 500 was unchanged. Driving the seeming unstoppable trend is the belief that soaring AI demand coupled with a memory shortage could could lead to "windfall gains" across the sector. "Surging demand for AI accelerators and inference hardware can dramatically boost revenue for semiconductor firms.