Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis.

Good afternoon, today is Thursday, September 26th, and I'm your host Kim Khan.

Our top story so far. The AI trade got a jolt following strong guidance from

Chipmaker Micron.

Shares of Micron are up more than 10%. Seeking Alpha analyst, Gary Alexander says,

Micron's incredible near doubling revenue growth helps to solidify the thesis that AI is supporting a

multi-year boost in demand, adding that he believes the chip sector is oversold.

Mizujo analyst V.J. Rockish said the company was aided by strength in both NAND and dynamic random access memory pricing, while high bandwidth

memory pricing is set for 2025, with inventory already sold out. Also in AI

chip news, Susquehanna noted that pricing on Invidious Hopper line of products has remained strong ahead of the upcoming Blackwell line.

And lest Chris Rowland said aftermarket prices for the H100 have been relatively stable at slightly less than $30,000,

down 0.6% in the third quarter.

Additionally, there has not been any rise in H100 supply in the secondary market, suggesting that companies are

holding on to their purchases.

Looking to the economy, the morning numbers fell in the soft landing camp.

Q2 GDP stayed at 3% in its final revision matching

consensus. The latest print reflects upward revisions to private inventory

investment and federal government spending offset by downward revisions to non-residential fixed investment and exports.

Imports, which are subtracted from the GDP calculation, were revised up.

Orders for durable goods were virtually unchanged in August

better than the drop of 2.8% expected and much softer than July's 9.9% surge.

Electrical equipment, appliances, and components up two of the last three months

...