INTC, AMD, MU Stocks Hit 52-Week Highs Today: What's Triggering The Rally?

• Apple is considering using Intel’s U.S. foundries for future iPhone and Mac chips.
• AMD posted solid results with $10.3 billion in revenue, up 38% year-over-year.
• Micron extended its rally as demand for high-performance memory surged amid growth in AI infrastructure.  

Intel (INTC), Advanced Micro Devices (AMD) and Micron Technology (MU) stocks rallied to 52-week highs on Wednesday as investors poured into chipmakers tied to the expanding artificial intelligence infrastructure buildout.

The rally picked up after a combination of strong earnings, optimistic guidance and reports involving Apple’s chip supply strategy fueled investor enthusiasm across the sector. 

Intel Gains Momentum From Apple Chip Deal Report 

Intel shares have been on the rise after recent reports suggested Apple (AAPL) is exploring the possibility of using Intel’s U.S.-based foundries for future iPhone and Mac processors. 

Investors viewed the potential partnership as an endorsement of Intel’s manufacturing turnaround strategy and domestic fabrication expansion. The company has been working through a major turnaround under CEO Lip-Bu Tan. Intel has restructured operations, partnered with Nvidia, benefited from rising AI chip demand and secured Tesla as a manufacturing customer while expanding its advanced 18A chip production technology in the U.S. 

Intel stock finished the day 4% higher. On Stocktwits, retail sentiment around the stock changed to ‘bullish’ from ‘extremely bullish’ territory the previous day. 

AMD Delivers Strong AI-Focused Earnings

AMD stock gained after a stellar earnings report on Tuesday, in which the company posted quarterly revenue of $10.3 billion, representing 38% year-over-year growth driven largely by demand in its data center business. Revenue from that segment climbed to $5.8 billion, a 57% YoY jump as enterprise customers continued adopting the company’s EPYC processors and Instinct AI accelerators.

On Thursday, several Wall Street firms lifted their outlooks for AMD following the Q1 earnings report. Susquehanna analyst Christopher Rolland increased his price target on AMD shares to $450 from $375 while maintaining a ‘Positive’ rating.

The firm said AMD now believes the total addressable market for server central processing units could be twice as large as previously projected due to rising AI workloads.

Truist analysts also raised their target on AMD shares, lifting it to $478 from $283 while reiterating a Buy rating. The firm pointed to strong Q1 performance and second-quarter guidance as evidence that AMD’s AI strategy continues gaining traction.

AMD stock ended the session 18% higher with retail sentiment on Stocktwits in the ‘extremely bullish’ territory. 

MU Reaches Major Valuation 

Micron extended its rally, lifting its market value above $700 billion for the first time on Tuesday and placing it among the largest technology firms in the U.S.

The surge comes amid a broader semiconductor rally driven by sustained AI-related demand that has tightened the global supply of memory components used in advanced computing systems. 

The broader memory market, dominated by Micron, SK Hynix and Samsung, has struggled to keep up with rapid demand growth. AI workloads require large amounts of high-performance memory, particularly for training and running advanced models.

Micron stock rallied 4% higher on Wednesday. Retail sentiment around the stock remained in ‘extremely bullish’ territory. 

So far this year, INTC stock has gained over 206%, while MU and AMD stocks have surged over 133% and 96%, respectively. 

Also See: BYND Stock Plunges: Weak Outlook Overshadows First Positive Gross Margin In Years — Retail Loads Up Anyway

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