Qualcomm Jumps 8%, Micron Pops 4% as AI Semiconductor Rally Enters Parabolic Phase

Shares of Qualcomm (NASDAQ:QCOM) are up astir 8% to astir $237 successful aboriginal Monday trading, extending 1 of the astir assertive multi-week runs successful large-cap semis. Micron Technology (NASDAQ:MU) is climbing alongside it, up astir 4% to astir $774.

The moves travel a blistering Friday session, erstwhile QCOM closed up 8% astatine $219.09 and MU finished up 15% astatine $746.81. Over the past month, Qualcomm banal is up 86% and Micron shares are up 88%, the benignant of trajectory that defines a parabolic phase.

Year to date, the divergence is adjacent sharper. QCOM banal is up 40%, portion MU shares are up 177%, reflecting however aggressively investors are repricing the AI semiconductor complex. The question for traders this greeting is whether the velocity is sustainable.

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Qualcomm's Re-Rating Into an AI Infrastructure Name

Qualcomm's surge reflects an capitalist rotation that began aft fiscal Q2 2026 net connected April 29. The institution posted non-GAAP EPS of $2.65 connected gross of $10.6 billion, with automotive mounting a grounds astatine $1.33 billion, up 38% twelvemonth implicit twelvemonth (YoY).

CEO Cristiano Amon disclosed what's present the rally's centerpiece, stating that Qualcomm has "entry into the information center, wherever a starring hyperscaler customized silicon engagement is connected way for archetypal shipments aboriginal this calendar year." An Investor Day connected June 24 volition item the Data Center and Physical AI roadmap.

Wall Street is starting to respond. Daiwa upgraded QCOM banal past week with a $225 terms people raised from $140. That said, the broader sell-side mean sits astatine $174.84, good beneath the existent quote, a spread that frames the bull-versus-bear debate.

Micron's Memory Supercycle Keeps Compounding

Micron's communicative is simpler. Fiscal Q1 2026, reported December 17, 2025, delivered non-GAAP EPS of $4.78 versus a $3.94 estimate, with gross of $13.64 billion, up 57% YoY.