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Micron shares are rising again despite weak overall market. Why memory chip rally seems unstoppable

CNBC·Tobias Burns·21 days ago
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Sopa Images | Lightrocket | Getty Images Micron has become a standout favorite during the ongoing memory chip rally as tech companies scramble to secure supply amid shortages. The stock is up yet again on Monday even as the overall market is sagging on rising energy prices and concerns of renewed fighting between the US and Iran. Shares of Micron were up 9% in morning trading as the S&P 500 was unchanged. There was very little green on the board besides chip stocks and energy stocks because of a rise in oil. Intel was up more than 6% and Qualcomm was up more than 12% before both stocks pared initial gains. Micron shares are up 11 of the last 15 sessions. Since the end of March the shares have more than doubled. Stock Chart Icon Stock chart icon Micron, YTD Driving the seeming unstoppable trend is the belief that soaring AI demand coupled with a memory shortage could could lead to "windfall gains" across the sector.…

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