Chip Stocks Surge After Strong Earnings from Microsoft and Lam Research
Earnings·1 article across 1 outlet
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Global stocks experienced a boost as chipmakers rallied following strong earnings reports from Microsoft and Lam Research. Notable gains included Lam Research closing up 18%, Micron up 18%, Sandisk up 26%, Arm up 7%, AMD up 13%, and Intel up 11%.
This rally in chip stocks contributed to a positive end of the month, reversing a steep derating in this year’s most popular trade. The overall market sentiment was buoyed by the performance of these tech giants, leading to a broader increase in global stock indices.
MicrosoftLam ResearchMicronSandiskArmAMDIntel
Sources
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SourceReports the news
“A rebound in global chipmakers carried into Friday, buoying stocks to end a month that saw a steep derating in this year’s most popular trade on a positive note.”
Bloomberg — Global Stocks Rise as Chip Rebound Gathers Speed: Markets Wrap“Chip stocks rallied Thursday after strong Microsoft and Lam Research earnings: Lam Research closed up 18%, Micron 18%, Sandisk 26%, Arm 7%, AMD 13%, Intel 11%”
techmeme — Chip stocks rallied Thursday after strong Microsoft and Lam Research earnings: Lam Research closed up 18%, Micron 18%, Sandisk 26%, Arm 7%, AMD 13%, Intel 11% (Samantha Subin/CNBC)