Rambus (RMBS) stock spikes 18% to a fresh high as chip rally builds ahead of Feb. 2 results
Rambus shares jumped 18% to $130.26 by late morning Wednesday, hitting a 52-week high amid a broad chip sector rally. Intel rose 11%, AMD and Micron gained about 8%, and the iShares Semiconductor ETF climbed 3%. Investors are focused on Rambus’ Feb. 2 earnings call for updates on data-center memory demand. Trading volume in Rambus topped 2.8 million shares by midday.