Rising Tide Lifts All<\/p>\n
Overall, U.S. chip stocks surged on Friday, with Nvidia Corp. (NVDA) rising to a new high, while Intel Corp. (INTC)\u00a0soared nearly 30%<\/a> before paring some of the gains after blowing past Wall Street expectations with its first-quarter (Q1) performance.<\/p>\n AMD shares<\/a> soared more than 15%, aided by Intel\u2019s performance and an analyst\u2019s 70% price target hike.<\/p>\n The iShares Semiconductor ETF (SOXX) was up more than 5% in Friday\u2019s midday trade, with most of the stocks that make up the ETF rising during the regular trading session.<\/p>\n How Did Retail Traders React?<\/p>\n Retail sentiment on Stocktwits around\u00a0Micron Technology<\/a> trended in the \u2018bearish\u2019 territory at the time of writing.<\/p>\n One user stated that Micron will have a significant agentic AI opportunity, as it supplies memory to Nvidia for its Vera Rubin platform.<\/p>\n Another user stated that Micron remains a deep value play.<\/p>\n The Nvidia Connection<\/p>\n Micron announced last month that its 192GB SOCAMM2 memory had entered high-volume production, designed for AI and high-performance computing workloads on the Nvidia Vera Rubin platform.<\/p>\n The company stated that it offers the SOCAMM2 product with capacities up to two terabytes and a bandwidth of 1.2 terabytes per second.<\/p>\n \u201cOur close collaboration with NVIDIA ensures that compute and memory are designed to scale together from day one,\u201d said Sumit Sadana, executive vice president and chief business officer at Micron.<\/p>\n This comes at a time when the company\u2019s unable to meet the demand for its memory products.<\/p>\n \u201cMemory today is very tight supply and supply cannot be brought up that easily, and you are seeing that in our results,\u201d Micron CEO Sanjay Mehrotra\u00a0told<\/a> CNBC during an interview following second-quarter (Q2) results last month.<\/p>\n Mehrotra added that the company is only able to meet about half to two-thirds of the memory demands of its key customers.<\/p>\n MU stock<\/a> is up 76% year-to-date, while\u00a0INTC stock<\/a> is up 117%.<\/p>\n Also See:\u00a0DOJ Drops Jerome Powell Probe, Clearing Path For Kevin Warsh\u2019s Confirmation As Fed Chair<\/a><\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com.<\/p>\n
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