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On June 25, semiconductor stocks surged significantly in after-hours trading on Wednesday. Shares of Micron Technology, the largest U.S. manufacturer of computer memory chips, soared 15% after hours as its results and forecasts exceeded expectations, boosting investor confidence in the prospects of the artificial intelligence industry. As of Wednesday's close, Micron's stock price had surged approximately 270% year-to-date. Influenced by Micron's performance, Qualcomm's stock also rose by as much as 15%. During its Investor Day event on Wednesday, Qualcomm made positive comments on the growth prospects in the artificial intelligence sector, stating that its expansion in the data center chip sector would generate 'billions of dollars' in revenue starting in the fiscal year beginning in October.
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