Micron bucks trend as chips dip on light volume
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Micron Technology (NASDAQ:MU) shares bucked the trend on Thursday and saw solid gains even as the semiconductor industry closed the session largely in the red. 
Micron (MU) shares rose 2.5% just after 1 p.m. EST, as just over 9M shares changed hands. For comparison purposes, the average daily volume is just under 16.5M shares.
Nvidia (NASDAQ:NVDA) shares dipped 1.2% even as Bank of America called it the picks and shovels leader in the "AI gold rush."
In a note previewing the company's first-quarter results, analyst Vivek Arya said the company could see upside from richer content and pricing of its H100 chips - which is between two and three times more expensive than the A100 - and its ability to bundle more networking content.
Intel (INTC) and AMD (AMD), both of which compete with Nvidia (NVDA), diverged, as Intel fell 3.6%, while AMD saw fractional gains.
Taiwan Semiconductor (NYSE:TSM), which makes chips for some of the world's largest tech companies, fell 1.7% even as the company's co-CEO said the company was working to control costs amid the war in Ukraine.
"War happening in a far away place â the Ukraine war â has ripple effects that reach us," said Taiwan Semiconductor's (TSM) co-CEO C.C. Wei at its annual technology showcase, according to Reuters.
GlobalFoundries (GFS), which competes with Taiwan Semiconductor, fell 1% on light volume as well.
Other semiconductor stocks were modestly lower on Thursday, including Texas Instruments (TXN), Analog Devices (ADI), NXP Semiconductors (NXPI), and Microchip Technology (MCHP).
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