2 Reasons Palantir, Micron and AMD Are Soaring

Core Viewpoint - Technology stocks, particularly Palantir, Micron Technology, and Advanced Micro Devices (AMD), are experiencing significant gains due to the end of the government shutdown and strong earnings reports, recovering from a recent downturn in the AI sector [3][4][6]. Group 1: Palantir Technologies - Palantir's stock surged 8% to above $190 after a drop to $168 during last week's sell-off, indicating a recovery as investors respond positively to the stock's rebound [5][6]. - The company reported strong Q3 earnings, surpassing estimates and raising its full-year outlook, driven by growth in its commercial sector and increased adoption of its AI platform [7]. - Analysts, including Bank of America, have issued bullish reports, raising Palantir's price target to $255, suggesting a potential upside of approximately 34% [7]. Group 2: Micron Technology - Micron's stock rose 6.3% following better-than-expected quarterly results, attributed to strong demand for AI memory chips, prompting the company to raise its outlook [8][9]. - The stock had previously fallen to $217 during the sell-off but has now recovered above $250, indicating positive momentum as it aims for new all-time highs [8]. - Analysts have upgraded Micron's rating from "hold" to "buy," with Citigroup setting a price target of $275, suggesting a 9% upside potential [9]. Group 3: Advanced Micro Devices (AMD) - AMD's stock increased by 5%, recovering from a low of $224 during the AI-related sell-off, now trading above $240 [10][11]. - Despite a mixed quarterly earnings report, which disappointed some investors regarding gross margin outlook, AMD is benefiting from renewed interest in AI stocks [11]. - Piper Sandler has raised AMD's price target from $240 to $280, reflecting a bullish outlook for the stock [11].