Chipmaker stocks rally after Micron's forecast points to steady AI demand
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** Shares of chipmakers advance after Micron Technology MU.O signals robust demand for semiconductors used to power generative AI technology with strong revenue forecast
** The broader Philadelphia Semiconductor Index .SOX opened at a two-month high, last up 3.87%, set to add to the nearly 23% gain this year
** Largest chipmaker Nvidia NVDA.O, which uses Micron's high-bandwidth memory chips (HBM) for its AI processors, rises 2.96%
** No.2 U.S. chipmaker by market value Broadcom AVGO.O up 2.41% and Marvel Technology MRVL.O 3.61%
** Advanced Micro Devices AMD.O climbs 3.81%, while Intel INTC.O gains 1.7%
** U.S.-listed shares of contract chipmaker Taiwan Semiconductor Manufacturing TSM.N up 3.44%
** Smartphone chipmaker Qualcomm QCOM.O gains 2.72%, U.S. listing of Arm Holdings ARM.O advances 3.31% and Texas Instruments TXN.O up 1.89%
** Shares of chip-making equipment companies including Applied Materials AMAT.O, Lam Research LRCX.O and KLA Corp KLAC.O gain between 4.73% and 6.6%
** Nvidia supplier SK Hynix 000660.KS ends up 9.4% during Asia trading hours
** The iShares Semiconductor ETF SOXX.O, VanEck Semiconductor ETF SMH.O both rise ~3.5%
Reporting by Sukriti Gupta
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