AI Stocks Roar Back After Micron’s Massive Earnings Beat

The AI stock roller coaster is climbing again.After a sharp selloff earlier this week rattled investors, optimism came rushing back Thursday following blockbuster earnings from Micron Technology, one of the world’s leading memory chipmakers.Micron reported third-quarter profits of $28.2 billion, nearly 15 times higher than the same period last year. Revenue soared 346%, powered by soaring demand for memory chips used in artificial intelligence systems.The company says customers have already committed $22 billion to secure future chip supplies, underscoring just how hungry the AI industry has become for processing power.Micron’s strong performance sent its stock soaring more than 16% in pre-market trading and helped spark a broader rebound across global markets. The tech-heavy Nasdaq climbed more than 2% before the opening bell, while major indexes in Europe and Asia also posted strong gains.The turnaround comes just two days after investors dumped AI stocks amid fears that sky-high valuations were getting ahead of reality. Chipmakers in South Korea, including SK Hynix and Samsung Electronics, had suffered steep losses in that selloff.But Thursday’s earnings report helped reset the mood, proving the AI boom still has powerful fuel in the tank, even if the market ride remains as bumpy as a shopping cart on cobblestones. For more Coachella Valley News visit NBCPalmSprings.com