AMD Shares Rise 3.7% on Micron’s $41.46B Q3 Surge and Memory Shortage
AMD•AMD stock climbed 3.7% after peers rallied on Micron’s record Q3 revenue surge to $41.46 billion and Qualcomm’s projection of $15 billion in data-center sales by 2029. A multi-year memory supply shortage extending into 2028 underpins sustained demand for AMD’s server GPUs in AI-powered data centers.
1. Sectorwide Chip Stock Rally
Memory chip names jumped after Micron reported fiscal Q3 revenue of $41.46 billion, beating estimates by over 16%, and Qualcomm forecast $15 billion in annual data-center sales by 2029. SanDisk and Western Digital each gained more than 12%, while Intel and AMD rose 5.4% and 3.7%, respectively, on renewed AI hardware optimism.
2. AMD’s Market Reaction
Advanced Micro Devices outperformed the Nasdaq during the overnight session, rising 3.7% as investors priced in strong data-center GPU demand. The company’s expanding presence in AI server racks positions it to benefit from elevated spending on high-performance compute hardware.
3. Memory Supply Outlook and AMD Demand
Industry leaders now expect memory shortages to persist through 2028, supporting elevated pricing and supplier margins. This extended supply crunch bolsters the case for continued investment in AMD’s graphics accelerators for AI workloads, underpinning medium-term revenue visibility.
