US Stock Market: AI chip rally reignites as Micron, Qualcomm forecasts add over $400 billion in market value

Micron Technology surged 12% in extended trading after projecting quarterly earnings above Wall Street expectations, adding over $400 billion in market value across the semiconductor sector. Qualcomm unveiled targets of $15 billion in annual data center revenue by 2029, boosting sentiment further. The rally lifted memory rivals Western Digital, Sandisk and Seagate by over 8%, while AI-linked names Arm Holdings, Marvell, Broadcom and equipment makers ASML and Applied Materials also advanced.