MU - Why Broadcom Micron and Intel Stock Are Jumping Today
2024-03-07 15:22:56 ET
Top semiconductor stocks are climbing again in Thursday's daily trading session. Broadcom (NASDAQ: AVGO) , Intel (NASDAQ: INTC) , and Micron Technology (NASDAQ: MU) were up 3.6%, 3.7%, and 4%, respectively, as of 3 p.m. ET, according to data from S&P Global Market Intelligence .
Before the market opened today, Mizuho published a note on Nvidia stock and raised its one-year price target from $850 per share to $1,000 per share. The positive analyst coverage had helped send the artificial intelligence (AI) leader's share price roughly 3.5% higher in the daily session as of this writing -- and the bullish news had spillover benefits for other top chip stocks. But Broadcom, Micron, and Intel are also enjoying their own company-specific valuation tailwinds today.
According to a report published by Bloomberg today, Intel is on track to score another big public-sector win. The report states that the U.S. government is poised to invest $3.5 billion in the company to aid the production of chips that will be used for military and intelligence purposes.
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Why Broadcom, Micron, and Intel Stock Are Jumping Today