Micron Jumps 9.8% as Chip Stocks Rebound on Renewed AI Optimism
Updated
Updated · stockstory.org · Jul 21
Micron Jumps 9.8% as Chip Stocks Rebound on Renewed AI Optimism
2 articles · Updated · stockstory.org · Jul 21
Summary
Micron rose 9.8%, Intel gained 7.2%, Marvell added 7.1%, and KLA and Lam Research climbed more than 4% as buyers returned to beaten-down semiconductor names.
The rebound followed last week's steep chip selloff, which briefly pushed major semiconductor stocks into bear-market territory and left valuations looking more attractive.
AI spending optimism drove the move despite recent doubts over whether big tech will sustain heavy infrastructure outlays, with persistent memory shortages adding support for Micron.
The rally was broad: TSMC rose 3.2%, MediaTek jumped 9.9% in Asia, U.S. semiconductor gauges gained more than 4%, and investors now await upcoming tech earnings for confirmation.