Global chip stocks surge as blowout Micron results reignite AI rally

Micron surged over 17 percent in U.S. premarket trading after forecasting quarterly profit and revenue well above expectations, with customers committing 22 billion dollars to lock in memory chip supplies. The stock was on track to add roughly 214 billion dollars in market value at 1,237.91 dollars per share, pushing its market capitalisation to 1.39 trillion dollars. Global chip peers rallied, with Western Digital and SanDisk jumping over 10 percent, Qualcomm soaring nearly 12 percent on 15 billion dollars data center revenue target by 2029, and SK Hynix and Samsung climbing 13 percent and 5.3 percent respectively, as Micron CEO Sanjay Mehrotra said tight supply conditions would persist beyond calendar 2027.