Major global chip stocks rally on Micron's 15% surge; ASML up 4%
Global Chip Stocks Rally on Positive Revenue Guidance #
Global semiconductor stocks experienced a significant rally on Thursday, driven by positive revenue guidance from a major U.S. memory chip manufacturer. The company’s forecast exceeded market expectations, leading to a surge in its stock price and positively impacting the broader chip sector.
Asian Markets React #
In South Korea, two leading semiconductor companies saw their shares rise substantially. One closed more than 4% higher, while the other ended the day up over 9%. The latter’s performance was further boosted by an announcement regarding the mass production of new high-bandwidth memory (HBM) chips, with deliveries expected by year-end.
These HBM chips are crucial components in artificial intelligence (AI) processing for data centers, and demand for such products remains strong. The U.S. company’s earnings report highlighted that its HBM chips are already sold out for 2024 and 2025, indicating continued robust demand in the AI sector.
Japanese Market Movement #
In Japan, a major semiconductor equipment manufacturer saw its shares jump by 8%. This increase was partly attributed to the company’s Chief Financial Officer’s statement about expected growth in AI-related sales for the current fiscal year.
Additionally, a prominent technology investment company, which owns a majority stake in a chip design firm, experienced a share price increase of more than 4%.
European Market Impact #
The positive sentiment in Asian chip stocks carried over to European markets. A Dutch semiconductor equipment maker saw its shares rise more than 4% in early trading. Other European semiconductor companies also experienced significant gains.
Outlook #
The strong performance across global chip stocks reflects investor optimism about the continued growth in AI-related technologies and data center demand. As companies in the sector continue to innovate and expand production capabilities, particularly in AI-focused chips, the market remains attentive to signs of sustained momentum in this high-growth area.