Gene

WallStreetBets

AI Technology

Gains

<h3 id="tldr">TLDR</h3>
<ul>
 <li>Micron Technology’s stock rocketed 18% in pre-market hours following a remarkable 346% year-over-year revenue increase and third-quarter results that exceeded analyst projections</li>
 <li>Memory and storage sector peers including Sandisk, Seagate, and Western Digital climbed 8% to 15% on Micron’s momentum</li>
 <li>Qualcomm stock jumped 12% after the company announced plans to nearly double its non-smartphone revenue target to $40 billion by fiscal 2029</li>
 <li>Wendy’s stock gained more than 15% as social media-driven retail trading activity intensified on WallStreetBets</li>
 <li>Alibaba’s American depositary receipts declined following allegations from Anthropic that the company illegally accessed its artificial intelligence technology</li>
</ul>
Micron Technology experienced a dramatic 18% surge in pre-market activity Thursday following the release of quarterly earnings that significantly exceeded Wall Street’s forecasts.
<a href="https://knockoutstocks.com/stock/MU" rel="noopener noreferrer nofollow"> <img src="https://knockoutstocks.com/api/stocks/MU/embed" alt="MU Stock Card"> Micron Technology, Inc., MU </a>
The memory chip manufacturer reported a staggering 346% year-over-year revenue increase. Looking ahead to the fourth quarter, Micron provided guidance calling for adjusted earnings per share between $30 and $32, substantially higher than the analyst consensus of $25.72.
Revenue projections for the coming quarter range from $49 billion to $51 billion, well ahead of the $43.58 billion Wall Street estimate.
The impressive performance created a ripple effect across the memory and storage industry. Sandisk shares climbed 15%, <a href="https://coincentral.com/western-digital-wdc-stock-jumps-13-as-micron-earnings-lift-memory-sector/" rel="noopener noreferrer nofollow">Western Digital</a> advanced 12%, and Seagate Technology rose 8.4%.
Broader semiconductor and technology hardware stocks also participated in the rally. Applied Materials increased 7%, Intel advanced 5.1%, Marvell Technology gained 3.7%, and Corning jumped 8.8%.
Corning received an additional boost after announcing a quarterly dividend payment on Thursday, further attracting investor attention.
<h3 id="qualcomm-unveils-bold-non-handset-revenue-strategy">Qualcomm Unveils Bold Non-Handset Revenue Strategy</h3>
<a href="https://coincentral.com/qualcomm-qcom-stock-surges-12-after-doubling-revenue-target-and-landing-meta-deal/" rel="noopener noreferrer nofollow">Qualcomm shares</a> skyrocketed 12% following the company’s presentation of updated long-term financial objectives at its investor day.
The semiconductor giant established an ambitious goal of generating more than $15 billion from data center operations by fiscal year 2029. Additional targets include $10 billion from automotive applications and over $14 billion from Internet of Things products.
These projections combine to create a $40 billion non-handset revenue objective by 2029. The company also disclosed Meta Platforms as a new customer relationship.
Qualcomm’s strategic shift anticipates smartphone chips representing only one-third of total chip revenue by 2029, a significant reduction from current levels.
<h3 id="reddit-traders-propel-wendy-s-stock-higher">Reddit Traders Propel Wendy’s Stock Higher</h3>
<a href="https://coincentral.com/wendys-wen-stock-jumps-26-as-reddit-decides-its-time-for-a-comeback/" rel="noopener noreferrer nofollow">Wendy’s shares</a> climbed an additional 15% Thursday, continuing a rally that began after discussion on Reddit’s WallStreetBets community attracted retail investor interest.
Market research provider Vanda characterized the movement as having “clear echoes” of the retail-fueled short squeeze phenomena witnessed during 2021.
<h3 id="alibaba-slides-on-ai-technology-theft-claims">Alibaba Slides on AI Technology Theft Claims</h3>
Alibaba’s U.S.-traded shares declined 3% while its Hong Kong-listed stock tumbled to a 16-month low.
The selloff was triggered by reports that artificial intelligence company Anthropic sent correspondence to White House officials and members of the U.S. Senate, alleging that Alibaba orchestrated a widespread campaign to illegally obtain access to its Claude AI technology.
Other Chinese technology companies also experienced losses. Xiaomi and Baidu each fell more than 3%.
ARS Pharmaceuticals plunged 23% after disclosing that no additional insurance coverage determinations were made for its epinephrine nasal spray during the July 1 review cycle.
Taysha Gene Therapies declined 10% following the announcement of a public equity offering designed to generate approximately $200 million.
The post <a href="https://blockonomi.com/semiconductor-stocks-rally-micron-mu-qualcomm-qcom-intel-intc-lead-thursdays-gains/" rel="noopener noreferrer nofollow">Semiconductor Stocks Rally: Micron (MU), Qualcomm (QCOM), Intel (INTC) Lead Thursday’s Gains</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.

Semiconductor Stocks Rally: Micron (MU), Qualcomm (QCOM), Intel (INTC) Lead Thursday’s Gains

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