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

Benzinga

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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00:00It's Benzinga, and here's what's on the block.

00:03Global chip stocks rallied in early Thursday trading after Micron forecasted stronger-than-expected

00:08revenue guidance for its November quarter.

00:10The U.S. chipmaker estimated revenue nearly half a billion dollars above analysts' estimates

00:15propelling shares up 16 percent in pre-market trading.

00:18The upbeat forecast lifted rivals with Samsung Electronics and Esky Hynix, seeing shares

00:24rise 4 and 9 percent, respectively.

00:26Tokyo Electron saw an 8 percent rise driven by CFO comments on AI-related sales growth

00:31while SoftBank gained 4 percent.

00:33European chipmakers also surged on the AI optimism.

00:36For all things money, visit Benzinga.com.

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