US Stock Market Move | Chip stocks rose across the board, with Qualcomm (QCOM.US) up nearly 10%.

On Monday, chip stocks rose across the board, with Qualcomm (QCOM.US) up nearly 10%, Micron Technology, Inc. (MU.US) up over 6%, Intel Corporation (INTC.US) up over 3%, and NVIDIA Corporation (NVDA.US) up 2%. According to data from J.P. Morgan, last week individual investors bought tech stocks at the highest level in a year, with memory chip manufacturers benefiting from the AI boom being the most favored. Hardware stocks saw the second largest inflow of funds in history. Chris Verrone, Head of Technical and Macro Strategy at Strategas Securities LLC, stated in a report to clients, "The semiconductor sector has become irrational, with extremes in some cases reaching or surpassing levels seen in 1999. Parabolic charts sometimes move out of their own context. We do not predict when the market will reverse, but investors should protect their positions and stay highly alert."