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Global chip stocks rallied in early Thursday trading after Micron forecasted stronger-than-expected revenue guidance for its November quarter. The U.S. chipmaker estimated revenue nearly half a billion dollars above analyst estimates, propelling shares up 16% in premarket trading. The upbeat forecast lifted rivals, with Samsung Electronics and SK Hynix seeing shares rise 4% and 9%, respectively. Tokyo Electron saw an 8% rise, driven by CFO comments on AI-related sales growth, while SoftBank gained 4%. European chipmakers also surged on the AI optimism.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:03Global chip stocks rallied in early Thursday trading after Micron forecasted stronger-than-expected
00:08revenue guidance for its November quarter.
00:10The U.S. chipmaker estimated revenue nearly half a billion dollars above analysts' estimates
00:15propelling shares up 16 percent in pre-market trading.
00:18The upbeat forecast lifted rivals with Samsung Electronics and Esky Hynix, seeing shares
00:24rise 4 and 9 percent, respectively.
00:26Tokyo Electron saw an 8 percent rise driven by CFO comments on AI-related sales growth
00:31while SoftBank gained 4 percent.
00:33European chipmakers also surged on the AI optimism.
00:36For all things money, visit Benzinga.com.

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