Wall Street has gotten more bullish on Micron’s stock after its Q3 results, citing AI-chip demand fueled by data center growth and improved margins as key performance drivers.
The company’s data center revenue more than doubled year-over-year and reached a quarterly record, and consumer-oriented end markets had strong sequential growth.
Tech stocks climbed to new highs early Wednesday, with the Nasdaq 100 briefly touching 22,329 points after the opening bell, surpassing its previous peak from February 19.
Intel (INTC) is reportedly shutting down its automotive unit and will lay off most employees in that segment, the company told staff in an internal message.
The Finchat-compiled consensus expects t Micron to report adjusted earnings per share of $1.59 and revenue of $8.83 billion for the third quarter of the fiscal year 2025.
Wall Street analysts are upbeat about the stock’s trajectory, with the Koyfin-compiled consensus analysts’ price target of $172.60 implying 17% upside potential.
Broadcom’s stock surged to a record high after HSBC upgraded the stock to ‘Buy’ and raised its target to $400, citing stronger ASIC project visibility and rising AI-driven demand.
Intel appointed four senior leaders, including a new chief revenue officer and top AI engineers, to strengthen its technical capabilities amid intensifying semiconductor industry competition.
Texas Instruments plans to invest $60 billion to expand U.S. chip manufacturing, creating 60,000 jobs. Apple, Ford, Medtronic, NVIDIA, and SpaceX support the initiative.
The company said its seven factories will span three manufacturing mega-sites and manufacture “hundreds of millions” of U.S.-made chips daily, while creating over 60,000 new U.S. jobs.
Jonah Cheng’s liquidation followed fears about delays in GB200 racks, inventory risks, a lack of upward revisions to earnings forecasts, competition from custom-designed chips, and uncertainty around spending by cloud computing companies.
Analysts said the Helios rack will play a key role in driving growth for AMD’s Instinct GPUs, which power AI and high-performance computing workloads, and could accelerate the company’s broader recovery.
The Lisa Su-led company also said its end-to-end, open-standards rack-scale AI infrastructure meant for hyperscalers will be broadly available in the second half of 2025.
Saudi Arabia also hopes to emerge as the leader in the Middle East AI landscape, gaining an edge over the United Arab Emirates, another dominant AI player in the region.
Qualcomm stated that the deal would bring “key assets” to its product lineup, enabling it to better address the rising demand for high-performance, low-power computing driven by AI inference workloads.
