Micron Technology (MU) Surged 16% After Blowout Earnings and Strong Guidance
Micron beat revenue and profit estimates by wide margins and projected $50 billion in fourth-quarter sales, while its shares rose 8.39% after hours.
- On Wednesday, June 24, 2026, Micron Technology Inc. reported record fiscal third-quarter revenue of $41.5 billion, with shares jumping approximately 16% in after-hours trading.
- Booming demand for artificial intelligence memory products fueled growth, prompting Micron to announce "transformational Strategic Customer Agreements" to lock in supply volume and pricing visibility.
- Management anticipates fiscal fourth-quarter revenue of $50 billion, supported by high-volume shipments of HBM4 memory chips and an 84.6% gross margin on a GAAP basis.
- The report pushed Micron above a $1.2 trillion market capitalization, helping snap a fear-driven artificial intelligence sell-off that had weighed on chip stocks earlier this week.
- While the stock trades at a forward price-to-earnings ratio of about 10, analysts caution the memory business remains cyclical, potentially signaling peak earnings ahead.
14 Articles
14 Articles
Micron posts blowout earnings
US chipmaker Micron reported strong results Wednesday to top off a multi-day tech stock whipsaw. The company’s third quarter revenue beat expectations by more than 15%, as AI infrastructure demand remains insatiable. A “somewhat obscure” company last June, Reuters noted, Micron is now “a Wall Street darling,” CNBC wrote, thanks to the AI-fueled demand for memory chips that has lifted its valuation past $1 trillion; the company recently signed a …
Micron stock surges after earnings show memory-chip demand is still soaring
Bloomberg/Getty ImagesMicron stock popped after earnings on Wednesday.The memory-chip maker that's been a key pillar of the AI trade crushed revenue estimates.It also gave a strong sales forecast for the current quarter, beating consensus views.Micron passed the test.After fears that a less-than-stellar report from the memory-chip maker could further derail the AI trade after Tuesday's bruising sell-off, Micron delivered on all fronts.Shares of …
Stocks Climb Late After Micron’s Blowout Outlook: Markets Wrap
(Bloomberg) -- Stocks climbed in late hours on speculation that Micron Technology Inc.’s strong outlook will help reignite confidence in the artificial-intelligence trade that has powered the market rally from war-driven lows.
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