Micron and Qualcomm Earnings Spark Global AI Stock Rally

Global technology stocks recovered on June 25, 2026, following a period of high volatility and a significant sell-off that began on June 23. Initial investor anxiety over AI cash flows and potential Federal Reserve interest rate hikes had previously triggered a 10% tumble in South Korea's Kospi index, with Samsung and SK Hynix both dropping 12%.

Micron Technology reignited the AI-driven rally after reporting fiscal third-quarter revenue and profits that far exceeded expectations. The company revealed $22 billion in customer commitments for memory chips, causing its stock to jump over 17% to a record high and pushing its market capitalization to $1.39 trillion. Simultaneously, Qualcomm Inc. boosted sentiment by raising its annual revenue forecast to $40 billion and projecting $15 billion in data center sales by 2029.

These results lifted markets globally, with the Nikkei 225 and Kospi hitting record levels and European tech firms like ASML seeing gains. However, the recovery was tempered by the Federal Reserve's release of May PCE data, which showed inflation rising to 4.1%. This led to declines for companies like Apple and Alphabet. Other market movements included Alphabet's scheduled replacement of Verizon in the Dow Jones Industrial Average and SK Hynix's plan to raise $29.4 billion through a U.S. stock listing.

Geopolitical shifts also influenced trading, as oil prices fell amid negotiations between the United States and Iran to end their war. President Donald Trump noted that Iran would not charge tolls for commercial ships in the Strait of Hormuz, further contributing to the energy sector's decline.