Micron has emerged as a top performer amid the ongoing memory chip rally, as tech companies race to secure supply amid shortages.
The stock continued to rise on Monday, even as the broader market declined due to rising energy prices and concerns over renewed tensions between the US and Iran.
Shares of Micron increased by 9% in morning trading, while the S&P 500 remained flat.
Aside from chip and energy stocks, few other sectors showed gains, partly driven by a surge in oil prices.
Notably, Intel gained over 6%, and Qualcomm jumped more than 12%.
Micron’s shares have risen in 11 of the last 15 sessions, more than doubling since the end of March.
Source (CNBC)
