Micron soars on chip shortage ‘perfect storm’

World Net Daily

(ZEROHEDGE) – In a time when pervasive chip and semiconductor shortages are snarling supply chains across the globe, it is hardly a surprise that chip giant Micron shares surged more than 5% in premarket trading, after the chipmaker gave a bullish sales and earnings forecast, with analysts positive on pricing trends for dynamic random access memory (DRAM), while highlighting improving demand from enterprise customers.

Shares in chip stocks peers also climbed in premarket trading, with Applied Materials up 2.6%, Nvidia gaining 1.5%, and Intel +1.2%. Separately, the WSJ reported that Micron and Western Digital are each exploring a potential deal for Japan’s Kioxia.

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