After two days of chip selling, Micron flips the story with a blowout quarter.
Micron reported quarterly results that blew past expectations. Its stock jumped about 12.6% in after-hours trading.
Earnings came in at $25.11 per share, above the $20.28 expected. Revenue hit $41.46 billion, well above the roughly $35 billion consensus.
The engine is relentless memory demand for artificial intelligence. Tonight the market's focus shifts to whether that pop holds when the regular session opens.
| Stock | Movement | What to Watch |
|---|---|---|
| MU | After-hours ~+12.6% | Beat on earnings and revenue; next-quarter guide far above consensus, plus a $0.15 dividend |
| NVDA | Lifted by AI memory read-through | Micron supplies HBM memory for Nvidia's AI platforms; signals AI demand is still strong |
| AVGO | Riding the same AI theme | Benefits from the same AI capex cycle; watch the sympathy move at the open |
Micron (MU) posted $25.11 in earnings per share, above the $20.28 expected. The company guided next-quarter revenue to $49 to $51 billion, far above consensus. Management also declared a $0.15 per-share dividend.
Several analysts moved fast to lift their price targets. Needham raised its target to $1,550 from $500, while BofA and TD Cowen each went to $1,500. The moves reinforce the AI memory supercycle narrative.
Micron's results are a positive signal for the broader AI supply chain. Nvidia (NVDA) uses Micron's HBM memory in its latest platforms. Broadcom (AVGO) also benefits from the same AI spending cycle.
Micron leads the pre-market move with a double-digit pop. Other chip names could get a lift after two days under pressure.
Watch whether the strength holds at the open, or whether some traders choose to take profits.
Oil eased to pre-war levels, with WTI around $70 a barrel. The 10-year Treasury yield fell 8 basis points to 4.41%, cooling inflation worries.
Micron's report flips the story from a chip selloff to renewed strength in the AI theme. The question now is whether the momentum spreads across the semiconductor sector.
If you hold chip exposure, tonight is a time to watch the post-report reaction. What stocks are you watching tonight?
Track MU, NVDA, and AVGO tonight straight from the app. Check your watchlist on Gotrade now.
Disclaimer
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
