U.S. chip stocks experienced a significant rally in pre-market trading, with Micron Technology leading the charge. Following a 19% gain the previous day, Micron surged an additional 10% to $984.95 per share, boosting its market capitalization to $1.1 trillion. Other notable performers included Marvell Technology and NXP Semiconductors, both rising over 6%, while Western Digital climbed over 5%.
SanDisk and Seagate Technology each advanced more than 3%, contributing to the sector's strong performance. TSMC also saw a notable increase, rising over 5% after reports suggested a 15% price hike for its 3-nanometer technology in the latter half of the year, with a potential further increase of 10% next year. The overall positive sentiment was reflected in the broader market, with futures for major U.S. indices showing gains.
U.S. Chip Stocks Surge in Pre-Market Trading, Led by Micron and TSMC
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