European chip stocks rise after Micron's upbeat forecast and revenue beat
SMH•European semiconductor shares rose after Micron's first-quarter forecast and fourth-quarter revenue beat expectations. The STOXX Technology index gained 0.6%, while the wider STOXX 600 fell 0.7%.
1. Chip shares advance
European semiconductor shares rose after Micron's forecast and fourth-quarter revenue beat expectations. ASML, ASMI, Besi and Infineon gained between 2% and 3%, while AT&S rose around 5%.
2. AI demand outlook
A local trader said Micron gave a bullish outlook for AI-memory demand and delivered “strong” fourth-quarter results, adding that sentiment was positive for AI-related power and technology stocks. The STOXX Technology index was up 28.8% year to date, including Thursday's session.
