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By Mike Dolan May 27 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets The chips are indeed blue.
South Korea's SK Hynix and US chipmaker Micron both surpassed $1 trillion (€860bn) in market capitalisation within 24 hours of each other. Seoul's KOSPI index also hit an all-time high as AI continues to reshape markets.View on euronews
(Bloomberg) -- Memory chip maker ChangXin Memory Technologies Inc. has received approval from the Shanghai Stock Exchange for an initial public offering that’s on track to be the biggest in mainland China since 2022, in a milestone for one of the key technologies of the artificial intelligence buildout. Most Read from BloombergIran’s Khamenei Says No Going Back for Middle East Rocked by WarSingapore Hands Byju's Founder His First Ever Jail TermPutin Signs Law on Use of Army to Aid Russians Detai
Data from Stocktwits shows that retail sentiment has held at ‘bullish’ on SPY and QQQ this week.
Asian equities were mixed on Wednesday with gains driven by soaring tech stocks and guarded optimism the United States and Iran will reach a peace deal."There remains an air of cautious optimism in markets that an MoU between the US and Iran will be signed and detailed throughout the week, although the central expectation and broad positive sentiment has been dented by the recent US defence strikes and Iran stating these measures breach the agreement," said Chris Weston, head of research at Pepp
Shares of semiconductor manufacturing equipment maker KLA Corporation (NASDAQ:KLAC) jumped 6.6% in the afternoon session after Micron's blowout day signaled that AI-driven chip demand is structurally undersupplied which is bullish news for the equipment makers and foundries that build the capacity.
Global stocks extended a rally as investors remained optimistic that peace talks between the U.S.-Iran are progressing, despite a fresh exchange of strikes earlier this week.
Micron could realistically have much more room to run.
With its dizzying rise yesterday, Micron became the 12th U.S. company worth $1 trillion, cementing the fastest run to a 13-figure valuation ever seen. The company reached the threshold only 48 days after it was first valued at $500 billion, according to Dow Jones Market Data.
Semiconductor powerhouse Micron Technology Inc. (NASDAQ:MU) vaulted on Tuesday, officially crossing the $1 trillion market capitalization milestone following a rally driven by demand for artificial intelligence (AI). Historic Market Cap Milestone The shares of the Idaho-based chipmaker closed 19.29% higher at $895.88, locking in a final market value of $1.010 trillion. According to data from CompaniesMarketCap, this monumental surge enabled Micron Technology to comfortably overtake legacy giants
A number of stocks jumped in the afternoon session after Micron's blowout day signaled that AI-driven chip demand is structurally undersupplied which is bullish news for the equipment makers and foundries that build the capacity.
A number of stocks jumped in the afternoon session after Micron's blowout day signaled that AI-driven chip demand is structurally undersupplied which is bullish news for the equipment makers and foundries that build the capacity.
A number of stocks jumped in the afternoon session after Micron's blowout day signaled that AI-driven chip demand is structurally undersupplied which is bullish news for the equipment makers and foundries that build the capacity.
Shares of networking chips designer Marvell Technology (NASDAQ: MRVL) jumped 5.7% in the afternoon session after Micron's blowout day signaled that AI-driven chip demand is structurally undersupplied which is bullish news for the equipment makers and foundries that build the capacity.
Micron Technology Inc. (NASDAQ:MU) is one of the 10 Stocks With Jaw-Dropping 14-74% Gains. Micron Technology kicked off the trading week soaring to a new all-time high, as investors gobbled up shares following news that it officially started the full operations of its new $2-billion facility in Manassas, Virginia. In a statement late last week, […]
Asian shares were mostly higher on Wednesday and oil prices fell after the U.S. stock market rose to more records. It topped 66,000 for the first time in intraday trading. Computer chip equipment maker Tokyo Electron's shares jumped 5.9% and testing equipment maker Advantest gained 5.7%.
A respected investment bank sees gains of over 80% for investors who buy this top AI stock now.
The gains are viewed as part of a broader rotation away from expensive AI software names and toward companies supplying the hardware backbone of the expanding AI economy.
UBS placed the Street’s most bullish call on MU yet, triggering a 19% rally in the stock on Tuesday.
The breakneck surge in memory-chip stocks is intensifying, sending the market capitalizations of SK Hynix and Micron Technology above $1 trillion for the first time, as investors bet the AI boom will lead to a sustained revaluation of the industry. Bloomberg's David Savage breaks down the trends.
SK Hynix joins the $1 trillion club as memory chip stocks rally.
Markets have been closely tracking developments in the Middle East, with the U.S.-Iran war now in its 13th week.
<body><p>STORY: It was a mostly upbeat Tuesday on Wall Street, despite a slight move downward for the Dow. The S&P 500 climbed about six-tenths of a percent and the tech-heavy Nasdaq added roughly 1.2%, with both indexes closing at record highs.</p><p>AI-fueled optimism offset concerns over Middle East peace talks, which were compounded by recent U.S. strikes on Iran.</p><p>:: Micron</p><p>Semiconductor stocks continued to lead the charge, with Micron Technology soaring 19%, hitting $1 trillion in market value for the first time after UBS more than tripled its price target on the stock.</p><p>But Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, finds the narrowness of market gains concerning.</p><p>"Just to paint a picture of the contrast in the markets from pre-Iran conflict to post, if you look through the market for the first couple of months this year, 65% of companies were outperforming the index. Since the conflict commenced at the end of February, just 24% of companies are outperforming the S&P 500. [FLASH] Any time you see a market that becomes more narrow, as a portfolio manager, as an investor, you start to question the longevity and resilience of that market."</p><p>Sticking with chip makers, shares of Qualcomm rose almost 4.5% after Bloomberg News reported the company reached a deal with TikTok owner ByteDance to supply chips. </p><p>Elsewhere in the market, shares of AutoZone tumbled nearly 9% - despite the company reporting quarterly profit and revenue that beat estimates - as higher costs and inventory investments continued to pressure margins.</p></body>
Long before Micron Technology was one of the hottest commodities in the artificial-intelligence trade, it received $1 million from a potato tycoon named J.R. Simplot. Simplot, who died in 2008, invested in Boise, Idaho-based Micron in the early 1980s while it was still a nascent company in the computer-chip business. Micron on Tuesday crossed $1 trillion in market capitalization, the 12th U.S. company to reach that valuation and the first to be based in Idaho.
