BUZZ-Memory chips surge after Micron's strong outlook
Sandisk Corporation SNDK | 0.00 | |
Seagate Technology Holdings PLC STX | 0.00 | |
Western Digital Corporation WDC | 0.00 | |
Micron Technology, Inc. MU | 0.00 | |
Microchip Technology Incorporated MCHP | 0.00 |
** Shares of U.S. memory chip makers jump premarket after Micron Technology MU.O forecasts Q4 profit, revenue above estimates and delivers Q3 beat
** MU soars 16% after co said its customers had committed $22 billion to lock in supplies of memory chips
** Sandisk Corp SNDK.O last up 13.2%, Western Digital WDC.O adds 11.4%, Seagate Technology STX.O gains 7.9%
** Roundhill Memory ETF DRAM.P surges 12% after a 9% pullback since the start of the week
** European and Asian chipmakers also join the rally
** The surge follows MU's 13% plunge on Tuesday as part of a broader selloff
** Up to last close, the Philadelphia semiconductor index .SOX has risen ~90% YTD compared to 7.5% gain in the S&P 500 .SPX