By by Jack Denton

Micron stock rose early Tuesday, reversing initial losses as the tech rebound suddenly burst back into life.

Micron stock was 1.4% higher in early trading on Tuesday after the shares gained 3% on Monday -- it's starting to look like an encouraging reversal of a selloff across chips that has seen Micron stock lose almost 20% since October 7.

Chip stocks have come under intense pressure of late with valuations that had been stretched by an AI-fueled rally battered by worries about the mounting debt required to fund AI infrastructure expansions.

The pressure continued into early trading but then suddenly eased.

Among chip names, memory specialists were rising, with Sandisk up 0.8% and Marvell Technology climbing 1.5%.

But SK Hynix stock was showing more cracks. The company's stock listed in South Korea fell 4.2% to close at its lowest level since mid-April, while the shares that trade on the Nasdaq were down 0.6% in early trading.

South Korea was fueling further concerns around AI after the cloud infrastructure company Elice Group's much-anticipated initial public offering (IPO) was a bust in Seoul, with the stock dropping 30% in its market debut.

Micron may also face pressure over a possible strike this week after a union representing its workers in Taoyuan, Taiwan said it would launch a strike on Thursday in a dispute over employee bonuses. Taoyuan is one of Micron's most important manufacturing hubs.

Micron stock has previously been able to brush past strike fears when they reared their head in September, it may do so again.