On June 24, 2026, AI and chip stocks experienced a modest rebound, driven primarily by investors' anticipation of Micron Technology's fiscal third-quarter results. Despite a previous selloff, Micron remained relatively strong, down about 1%, as the Nasdaq increased by approximately 0.75%, and the S&P 500 and Dow also rose nearly 0.75% and 0.80%, respectively. Notable movements included Nvidia gaining about 1% despite a Sell rating from Seaport Research, while AMD remained stable. Broadcom's stock rose by approximately 1% following the release of a new chip powered by OpenAI. Other companies like Intel and Corning saw gains, while Qualcomm fell about 4% after announcing a $3.9 billion acquisition bid.

Oops, something went wrong

Skip to navigation Skip to main content Skip to right column

AI Chip Stocks Stage Rebound: Nvidia, AMD Lead Recovery Ahead of Micron Earnings Shock

Nauman Khan

Wed, June 24, 2026 at 3:34 PM EDT1 min read

This article first appeared on GuruFocus.

AI and chip shares recovered modestly on Wednesday as investors looked ahead to Micron Technology (MU) after Tuesday's selloff in memory names.

Micron was still down about 1%, but it remained one of the stronger performers in the group before its fiscal third-quarter results after the close.

The Nasdaq Composite rose about 0.75%, while the S&P 500 gained nearly 0.75%. The Dow climbed almost 0.80%. Western Digital (WDC) fell nearly 3%, while Sandisk ( NASDAQ:SNDK) and Seagate Technology ( NASDAQ:STX) each lost around 2%, keeping Micron in focus.

Among other chip names, Nvidia ( NASDAQ:NVDA) added about 1% even after Seaport Research kept a Sell rating. Advanced Micro Devices ( NASDAQ:AMD) was little changed, while Broadcom ( NASDAQ:AVGO) rose about 1% after unveiling a new chip with OpenAI. Intel (INTC) gained about 2%, while Qualcomm ( NASDAQ:QCOM) fell about 4% after confirming its $3.9 billion bid for Modular.

Micron also drew attention as Corning (GLW) jumped about 9%, Celestica ( NYSE:CLS) gained nearly 5%, and Ciena (CIEN) climbed about 3%.