US Stock Market: AI chip rally reignites as Micron, Qualcomm forecasts add over $400 billion in market value (opens original article in a new tab)

Semiconductor stocks rose sharply as Micron and Qualcomm forecasts boosted AI-related optimism, adding over $400 billion to market value.

• Micron Technology surged 12% after projecting quarterly earnings above expectations
• Qualcomm set a 2029 revenue target of $15 billion for its data center business
• Semiconductor sector gained over $400 billion in market value due to AI optimism
• PHLX Semiconductor Index up 90% in 2026 despite recent volatility