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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting sustained optimism in the advanced technology sector, shares of memory chipmakers Micron and SK Hynix gained ground during Thursday's session. According to reports, this rally was fueled by Alphabet's announcement to increase its capital expenditure guidance for 2026, which helped ease market concerns regarding a potential slowdown in AI infrastructure investments. Micron shares advanced 3.3%, while SK Hynix ADRs surged 6.2% following the update.
These developments strengthen the position of semiconductor suppliers who rely heavily on the budgets of tech giants; market data shows varied performance among peers, with Alphabet (GOOGL) closing at $342.09 and Microsoft (MSFT) at $390.34 as of July 22, 2026. The upward revision in Alphabet's capex signals robust and ongoing demand for AI-related hardware, providing a positive read-through for primary suppliers like Micron compared to broader sector peers.
Regarding price levels, MU stood at $959.48 and TSLA at $374.01 at the close of July 22, 2026. Traders are now monitoring the sustainability of this momentum in the absence of immediate upcoming macroeconomic catalysts specifically targeting the chip sector, while focusing on support and resistance levels formed after the recent rally, where MU saw a daily high of $982.62.