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Memory Chip Shortage Lifts Micron as Tech Sector Splits on Growth Drivers

Micron Technology surged nearly 38% this week, marking its strongest performance since 2008, as global memory chip scarcity tightens supply chains. The semiconductor rally contrasts sharply with losses elsewhere in big tech. Nvidia shares fell as rivals advanced, signaling a shift in market sentiment toward alternative growth areas. Canadian IT consulting firm CGI appointed Tim Hurlebaus as CEO after enduring a 40% decline over 12 months, largely due to concerns about disruption from artificial intelligence upstarts. Meanwhile, Ceres Power Holdings extended significant gains. Analysts note that recovery across technology stocks may prove uneven, with traditional computing and specialty semiconductors benefiting while mature segments face headwinds.