United Microelectronics is trading 6.8% up at $23.11, extending a sharp multi-day rally following strong recent sales and earnings momentum in the semiconductor space. The move is primarily driven by:
- UMC's significant year-over-year revenue growth for May 2026 and the January-May period, and a strong first quarter where earnings per share more than doubled expectations.
- An optimistic outlook for the second quarter of 2026, forecasting high single-digit increases in wafer shipments and modest growth in average selling prices.
- General tailwinds from the broader global risk-on surge due to the U.S.–Iran peace agreement and strong demand in the AI chip market.