Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally
Stronger-than-expected forecasts from Micron and Qualcomm triggered a roughly $400 billion rally in AI chip stocks. A surge in memory prices and data-center demand drove the gains. Shares of both companies jumped by double digits.
Better-than-expected forecasts from Micron and Qualcomm sparked a roughly $400 billion gain in the market value of AI chipmakers. Investors piled in after data confirmed the strength of demand across the sector.
Micron said it expects revenue to multiply on the back of surging memory prices. Qualcomm raised its projection for non-handset revenue, signalling a deeper push into the data-center and server market.
Shares of both companies jumped by double digits. Analysts said spending on AI infrastructure is expected to stay strong through 2026, but cautioned that valuations remain elevated and volatility could persist.
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