Micron Forecast Sparks AI Stock Rally

Micron Technology shares surged after the largest US memory-chip maker issued a quarterly sales forecast that crushed Wall Street estimates, signaling the AI-fueled growth run remains strong.

The results eased investor fears about a potential slowdown in artificial intelligence spending and lifted chip stocks worldwide.

Analysts at Susquehanna boosted their price target to $2,000, citing AI-driven demand and favorable contract pricing.

The broader market rose in response, with the S&P 500 gaining as the chipmaker’s performance reinforced confidence in the durability of the AI investment cycle.