Micron soared in premarket trading a day after reporting its third-quarter earnings. The company's revenue quadrupled from $9 billion a year earlier to nearly $42 billion.
U.S. stock futures pointed higher after Micron Technology's expectation-thumping earnings reignited optimism in the AI boom.
Earnings from memory maker assuage AI doubts
Asian markets rediscovered their appetite for risk on Thursday, helped by a fresh reminder that the AI trade still has hard earnings behind it. Strong updates from Micron and Qualcomm steadied nerves after a bruising bout of volatility in chip shares, pushing investors back into Japan and South Korea's technology-heavy markets.
Micron Technology, Inc. (MU) Q3 2026 Earnings Call Transcript
The South Korean memory company could give investors more opportunities beyond Micron, though it may also raise awareness of industry dynamics.
Shares of chipmakers surged late on Wednesday, adding over $400 billion in market value after strong forecasts from Micron Technology and Qualcomm breathed fresh life into Wall Street's recently waning AI stock rally.
The memory company sparks an after-hours rally, sending Nasdaq futures higher.
Micron Technology, Inc. delivered a blowout fiscal Q3, with revenue up 74% sequentially and 346% year-over-year, supporting my continued bullish stance. MU's forward P/E remains low at 9.4 despite a 265% YTD price surge, as earnings growth outpaces share appreciation, fundamentally supporting the rally. Pricing power, not just volume, is driving MU's results—DRAM and NAND ASPs surged while bit shipments grew modestly, signaling a structural shift in memory economics.
The headline numbers for Micron (MU) give insight into how the company performed in the quarter ended May 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Could Micron be ready to resume its record-setting rally?
Micron (MU) came out with quarterly earnings of $25.11 per share, beating the Zacks Consensus Estimate of $21.39 per share. This compares to earnings of $1.91 per share a year ago.