Tesla (TSLA) will maintain around the $400 mark for quite some time.
In other news, Micron Technology (MU) shares rose 4.42% to $991.64, signaling a potential end to the recent correction. This surge follows the company's commitment to invest $250 billion in US-based memory manufacturing and R&D by 2035, reflecting strong confidence in AI-driven demand.
While fiscal 2026 results show exponential revenue and EPS growth, the massive capital expenditure poses long-term risks regarding valuation and supply overcapacity. Technically, support at $900 remains critical; a sustained break above $1,050 resistance is necessary to target previous highs and potentially reach $1,400.
SK Hynix's U.S.-listed shares jumped 13% in their Nasdaq debut following its $26.5 billion share sale, the latest indication that investor enthusiasm for chip stocks remains intact despite their recent pullback from a dizzying rally.
The South Korean chipmaker is the latest to ride a frenzy of investor interest in firms perceived as reaping big gains from the AI revolution that has spawned hundreds of billions of dollars in capital spending.
Chip stocks have lost some momentum in recent weeks after a stellar run, partly due to investor concerns about slower AI spending. SK Hynix shares have dropped a quarter from their record high hit two weeks ago. Even so, the company's stock is about 630% higher than a year ago.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

