Chip stocks surged on Thursday following strong earnings reports from Microsoft and Lam Research, sparking a broad market rally and double-digit gains for many struggling semiconductor companies.
Lam Research shares soared 20%, marking their best day since 1999, after posting robust earnings and guidance driven by artificial intelligence demand.
Microsoft also gained 15%, citing strong growth in its Azure cloud business and increasing capital expenditures due to high demand.
Memory stocks also rallied, with Samsung warning that the memory shortage could persist into 2028.
Micron and Sandisk rose 13% and 21%, respectively. These stocks had previously declined due to underwhelming results from South Korea’s SK Hynix.
Source (CNBC)
