The Nasdaq 100 index surpassed 30,000 points during Tuesday's session, led by a strong rally in semiconductor stocks, especially Micron Technology which surged 18%. This rally was fueled by rising expectations for AI-related spending, with UBS raising Micron's price target significantly due to anticipated AI memory demand. The tech sector led gains with semiconductor ETFs posting strong returns, while other sectors like energy and consumer staples lagged. This marks a significant milestone reflecting investor optimism about AI-driven growth in tech and semiconductor industries.
Nvidia has been a top AI investment as demand for AI chips surged, but the next wave of IPOs from major AI customers like SpaceX, OpenAI, and Anthropic could shift investor focus. These companies, while not competitors in hardware, may compete for in...
Micron Technology reported a massive 196% year-over-year revenue increase to $23.9 billion in Q2 FY2026, driven by strong AI-related demand for its memory products. Despite this, the stock trades at a low forward earnings multiple of 7x compared to p...
Shares of Micron Technology surged 16% after UBS analyst Timothy Arcuri raised Micron's price target from $535 to $1,625, citing durable AI-driven demand and long-term memory supply agreements. This upgrade sparked gains across the memory sector, wit...
Micron Technology's market value reached $1 trillion for the first time after its shares surged 18% to over $890. This jump was driven by a Wall Street upgrade highlighting the critical role of memory chips in AI development, alongside processors fro...
Micron's market value surpassed $1 trillion for the first time after its shares surged 18% due to strong demand for memory chips driven by artificial intelligence growth. UBS raised its price target from $535 to $1,625, citing long-term agreements wi...
