XLK is trading 1.7% higher in after-hours sessions following Micron Technology’s stronger-than-expected Q3 earnings, which serve as a critical barometer for AI and memory demand.
- The rally marks a partial reversal of the recent AI-driven tech selloff as investors react to Micron’s upbeat revenue, profit, and margin guidance.
- Strong results from the semiconductor giant have lifted broader large-cap tech sentiment, providing a positive read-through for the entire AI infrastructure complex.
- Market participants are reassessing growth prospects for the sector following the confirmation of sustained demand for high-end memory chips.