Why Arm Holdings, Broadcom, and Other Artificial Intelligence (AI) Stocks Rallied Thursday Morning
There's little doubt that one of the biggest contributors to the market rally that began early last year is the growing adoption of artificial intelligence (AI). Countering that bullish sentiment, however, are lingering concerns about the ongoing battle with inflation and its impact on the economy.
The Federal Reserve Bank has been resolute that it would not begin lowering interest rates until there has been a marked improvement in the rate of inflation. Consequently, interest rates remain at 22-year highs, but the latest read on inflation was better than expected, fueling hopes for a rate cut and sparking a broad-based market rally.
With that as a backdrop, chip designer Arm Holdings (NASDAQ: ARM) rose 3.2%, semiconductor giant Broadcom (NASDAQ: AVGO) rallied 4.9%, and memory and storage chipmaker Micron Technology (NASDAQ: MU) climbed 6.5%, as of 1:06 p.m. ET on Thursday.
Source Fool.com
Micron Technology Inc. Stock
Currently there is a rather positive sentiment for Micron Technology Inc. with 97 Buy predictions and 5 Sell predictions.
With a target price of 126 € there is a positive potential of 28.6% for Micron Technology Inc. compared to the current price of 97.98 €.
