๐ Micron $MU rockets +9% as $250B AI investment plan sends memory stocks soaring
Micron shares surged nearly 9% to around $1,021 Thursday morning after the chipmaker announced a massive $250 billion U.S. domestic expansion plan through 2035 to meet surging AI memory demand. The rally was backed by monster quarterly results: $41.5B in Q3 sales โ up 346% year-over-year โ and $22B in locked-in AI supply deals. Chip-equipment giant Applied Materials ($AMAT) tacked on 6.8% in sympathy as the whole AI hardware supply chain ripped. Is $MU finally breaking out for good, or will geopolitical jitters cap the move? Not financial advice.
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