Global chip stocks experience a major rally, driven by Micron's surge; ASML also sees a 4% increase.

• On Thursday, global chip stocks surged due to Micron's revenue forecast exceeding expectations and increasing its stock value.
• On Thursday, the shares of Samsung Electronics and SK Hynix increased in South Korea.
• In early European trade, ASML, a Dutch semiconductor equipment manufacturer, experienced a more than 4% increase in stock price. Additionally, other companies such as ASMI, Be Semiconductor, and STMicro also experienced significant stock price increases.

On Thursday, global chip stocks surged due to the revenue guidance from a U.S. memory semiconductor manufacturer that exceeded expectations, resulting in an increase in its stock price.

According to LSEG data, Micron forecasts revenue for its quarter ending in November to be between $8.5 billion and $8.9 billion, which is higher than the estimated revenue of $8.28 billion.

Micron's shares experienced a 16% increase in value during early trading in the U.S. on Thursday.

On Thursday in South Korea, Samsung Electronics and SK Hynix both experienced an increase in their shares. Samsung's stock price rose by more than 4%, while SK Hynix's stock price increased by more than 9%.

On Thursday, SK Hynix was boosted by news that it has begun mass production of a new high-bandwidth memory (HBM) chip and plans to deliver it by the end of the year.

Both SK Hynix and Micron provide memory chips for AI-based products in data centers, with HBM chips being considered crucial for AI processes.

Micron's earnings showed that demand for data center chips remains strong, with investors searching for indications of whether the rally in AI-related stocks will persist. Micron confirmed that its HBM chips are already sold out for 2024 and 2025.

In Japan, shares of increased by 8% due to comments from the company's CFO to the Nikkei stating that AI-related sales are expected to rise by approximately 15% to 690 billion yen ($4.8 billion) in the current fiscal year.

Arm, which is the majority owner of chip designer Arm, experienced a rise of more than 4%.

The optimism around Asian chip stocks filtered through to Europe.

In early trade in Europe, the Dutch semiconductor equipment maker experienced a rise of more than 4%. Additionally, other companies such as and STMicro also experienced sharp increases.