The chip sector is on the rise today
All signs point to strong artificial intelligence (AI) demand in 2025. Microsoft (MSFT) revealed plans to invest $80 billion in AI-powered data centers this year, while Hon Hai Precision Industry -- better known as Foxconn -- saw a 15% year-over-year jump in revenue to $63.9 billion in the fourth quarter amid growth in cloud and networking products.
These headlines sent semiconductor stocks surging, so let's check in with industry stalwarts Advanced Micro Devices Inc (NASDAQ:AMD), Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM), and Micron Technology Inc (NASDAQ: MU) to see how they are faring.
AMD was last seen up 3.9% to trade at $129.68. The security is bouncing off a pullback to the $120 level that neared its Dec. 20, 52-week low of $117.90. Its 40-day moving average lingers above, however, as it has since late October. Over the last nine months, AMD shed 23.8%.
TSM is up 5.8% to trade at $220.80 at last glance, and earlier surged to a new record high of $221.44, blasting through long-term overhead pressure at the $210 region. The shares sport a 121.6% year-over-year lead, and are pacing for their third-straight daily gain.
Outperforming its peers today, MU is up 10.7% to trade at $99.50 at last glance, The equity is also on track for its third consecutive daily gain, and is trading at its highest level since Dec. 18 as it bounces off a familiar floor at $85. In the last 12 months, MU added 19.8%.