Asian-News.net is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, Asian-News.net has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.

Contacts

  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

Major global chip stocks rally on Micron's surge; ASML up 4%

Global chip stocks rallied on Thursday after U.S. memory semiconductor maker Micron posted revenue guidance that topped expectations and boosted its share price.

Micron forecast revenue for its quarter ending at the end of November of $8.7 billion, plus or minus $200 million, ahead of estimates of $8.28 billion, according to LSEG data.

Shares of Micron jumped 16% in early trading in the U.S. on Thursday.

Its bigger rivals Samsung Electronics and SK Hynix both saw their shares rise Thursday in South Korea. Samsung closed more than 4% higher while SK Hynix ended up more than 9%.

SK Hynix was buoyed by an announcement on Thursday after the company said it has started mass production of a new version of its high-bandwidth memory (HBM) chips and aims for delivery by year-end.

SK Hynix and Micron are both suppliers of memory chips to Nvidia's products designed for artificial intelligence processes in data centers. HBM chips are seen as key for AI.

Micron's earnings highlighted that demand for data center chips are still strong as investors look for signs on whether a rally in AI-related stocks will continue. Micron reiterated that its HBM chips are sold out for 2024 and 2025.

In Japan, shares of Tokyo Electron jumped 8%. Part of this rise was fueled by comments from the company's CFO to the Nikkei that it sees AI-related sales rising about 15% in its current fiscal year to 690 billion yen ($4.8 billion).

SoftBank Group, which is the majority owner of chip designer Arm, was up more than 4%.

The optimism around Asian chip stocks filtered through to Europe.

Dutch semiconductor equipment maker ASML rose more than 4% in early trade in Europe. Other names including ASMI, Be Semiconductor and STMicro were also sharply higher.

Read more on cnbc.com
DMCA