Micron, the leading US memory chipmaker, has published its sales forecast. The figure significantly exceeded Wall Street expectations. As a result, chip stocks rose worldwide, CNBC reported.
Micron exceeds expectations
For the quarter to the end of November, Micron forecast sales of $8.7 billion (equivalent to 7.8 billion euros), significantly exceeding LSEG’s estimate of $8.28 billion. As a result, Micron shares rose as much as 16 percent in pre-market trading in the United States.
Shares of Micron’s larger rivals, Samsung Electronics and SK Hynix, also rose significantly in South Korea. Samsung shares closed up 4 percent, while SK Hynix shares closed up 4 percent, according to CNBC. up more than nine percent. SK Hynix also benefited from the announcement that it has started mass production of a new version of its high-speed memory chip, Handelsblatt reported.
ASML shares rise four percent
According to CNBC, optimism is also seen in Europe. Dutch semiconductor supplier ASML Holding rose more than four percent in early trading, while other companies such as ASMI, Be Semiconductor and STMicro also posted significant gains.
