Intel Shares Rally After Micron’s 346% Q3 Revenue Surge and 84.9% Margin
INTC•Intel shares rose after Micron reported 346% year-over-year revenue growth in fiscal Q3 and an 84.9% gross margin, sparking a rally in major semiconductor stocks including Intel. Qualcomm forecast $15B in data-center revenue by 2029 and $40B from non-smartphone chips, highlighting AI-driven demand that could boost Intel’s data-center sales.
1. Sector Rally Driven by Micron’s Record Q3
Micron reported 346% year-over-year revenue growth and an 84.9% gross margin in fiscal Q3, triggering a broad rally in semiconductor stocks that lifted major names including Intel.
2. Intel Shares Gain from Sector Momentum
Intel shares rallied in response to the sector-wide uplift, reflecting investor confidence that robust memory and chip demand will bolster Intel’s revenue and profit outlook over the coming quarters.
3. Qualcomm’s Data-Center Outlook Highlights AI Demand
Qualcomm projected $15 billion in data-center revenue by 2029 and $40 billion from non-smartphone chips, underscoring accelerating AI and data-center demand trends that could enhance Intel’s competitive positioning in server processors.
