Micron Technology reignites AI rally, European chip stocks climb

Ouyang Qiu
Ouyang Qiu

Micron Technology released robust earnings results, forecasting that chip supply shortages across Europe will persist through 2027 and beyond. The upbeat news fueled a sharp rally in European semiconductor stocks.

Dutch semiconductor equipment giant ASML and its smaller rival ASM International climbed 5.1% and 6.6% respectively. Dutch semiconductor assembly equipment supplier BE Semiconductor Industries gained 5.5%. German chip firm Infineon Technologies advanced 6.2%, while STMicroelectronics rose 4.5%.

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