Micron Jumps 7.5% as Tech Split Deepens and Meta, Honeywell Aerospace Slip
Updated
Updated · CNBC · Jul 9
Micron Jumps 7.5% as Tech Split Deepens and Meta, Honeywell Aerospace Slip
3 articles · Updated · CNBC · Jul 9
Summary
Micron surged 7.5% Thursday while Salesforce fell 2.5%, highlighting a widening split in tech even as broader stocks rebounded despite renewed U.S.-Iran tensions and higher oil prices.
Jim Cramer said AI spending is driving the divide: chip and hardware suppliers receiving hyperscaler orders are benefiting, while the hyperscalers and software names writing those checks are lagging.
Meta shares pulled back after the company signaled AI spending will stay elevated, including plans to make its own AI chip and expand computing capacity to 14 gigawatts next year.
Honeywell Aerospace dropped another 2% after its recent separation from Honeywell Technologies, a move Cramer said looks more like typical post-spin-off volatility than business deterioration.
Intel remains Cramer's top semiconductor pick as he said the portfolio is concentrating chip exposure around its highest-conviction ideas.