Micron and Qualcomm forecasts ignite $400 billion AI chip stock rally

Business

June 24 : Shares of chipmakers surged late on Wednesday, adding over $400 billion in market value after strong forecasts from Micron Technology and Qualcomm breathed fresh life into Wall Street's recently waning AI stock rally. Micron surged 12 per cent in extended trade after forecasting quarterly earnings above analysts' estimates, signaling that heavy investments in AI-related infrastructure will drive strong demand for its memory chips. Also after the bell, Qualcomm said it expects $15

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