GM Shares Jump 2.18% on Ford’s Multiyear Micron Chip Supply Deal
GM•GM shares rose 2.18% on July 6 following Ford’s announcement of a multiyear DRAM and NAND chip supply agreement with Micron. The sector-wide boost underscores improving semiconductor availability and potential production relief for Detroit’s major automakers.
1. GM Share Reaction
GM shares climbed 2.18% in intraday trading on July 6 after Ford revealed a long-term agreement with Micron to supply DRAM and NAND memory chips. Investors interpreted the news as a sign that improving semiconductor availability could alleviate production bottlenecks for GM and other Detroit automakers.
