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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
After a period of waning investor enthusiasm for AI stocks, strong forecasts from Micron Technology and Qualcomm reignited a rally in the chip sector. According to Reuters data, shares of chipmakers surged over $400 billion in market value, driven by optimism over sustained demand for AI chips.
The surge followed Micron and Qualcomm reporting forecasts that exceeded analyst estimates, boosting confidence in the sector's growth momentum. This comes amid global equity market volatility, with UK unemployment holding steady at 4.9% in June and the Philadelphia Fed Manufacturing Index falling to 10.3 points, signaling a potential slowdown in manufacturing.
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Sign InAt the close on June 24, 2026, Micron (MU) stood at $1,048.51, up from its low of $991.10 and near its high of $1,083.32. Qualcomm (QCOM) closed at $1048.51 on June 18. Investors now focus on upcoming US inflation data and central bank decisions, which could shape the sector's near-term trajectory.