QQQ is trading 1.6% up today following a strong Q3 earnings report from Micron Technology that eased anxiety about AI-chip profitability.
- Micron beat estimates and showed explosive profit growth, sparking a rebound in semiconductor and tech stocks after a multi-day selloff.
- The positive results helped reverse recent downward momentum tied to concerns over AI spending and high valuations.
- The recovery in after-hours trading provides a significant lift to the index's heavily tech-weighted constituents.