SMH is trading 2.3% up today as Micron Technology’s strong fiscal Q3 earnings ease concerns regarding AI memory demand and profit margins.
- The rebound follows a multi-day global selloff in the technology and AI sectors driven by valuation concerns and global tech weakness.
- Micron's results have restored confidence in the semiconductor benchmark, signaling sustained demand for AI-related chips.
- The move marks a significant shift in sentiment for the information technology sector during after-hours trading.