Chip Stocks Jump as Microsoft, Lam Research Ignite 20% Lam Surge
Updated
Updated · CNBC · Jul 30
Chip Stocks Jump as Microsoft, Lam Research Ignite 20% Lam Surge
3 articles · Updated · CNBC · Jul 30
Summary
Lam Research soared 20%—its best day since 1999—and the iShares Semiconductor ETF gained 8% as upbeat results from Lam and Microsoft reignited battered chip shares.
Microsoft rose 15% after signaling strong Azure growth and higher capital spending, while Lam pointed to AI-driven demand in both earnings and guidance.
Memory names joined the rally after Samsung warned the supply crunch could last into 2028, lifting Micron 13% and Sandisk 21%.
AMD and Applied Materials each climbed about 13%, Intel added 12%, Marvell rose 10% and Nvidia gained 2%, reversing part of a selloff that erased more than $1 trillion in chip value earlier this week.
Arm also gained 6% after saying demand for its AGI CPU has topped $2 billion across fiscal 2027 and 2028, reinforcing bets that AI infrastructure spending still has room to run.