Micron Earnings Quadruple Sparking Chip Rally
Micron’s record-breaking earnings — revenue quadrupling, gross margins hitting 84.9% — are the single biggest market-moving event of the day, sending Asian stocks surging and reviving the AI trade after a week of jitters. Directly affects millions of US retirement and investment accounts.
Micron Technology Inc. reported fiscal Q3 revenue of $41.46 billion, up from $9.3 billion a year earlier, as a global memory chip shortage drove prices to record levels. Net profit rose to $28.2 billion from $1.88 billion in the same period last year. Gross margin expanded to 84.9% — up from 39% a year ago — surpassing both Nvidia and Meta and making Micron the highest-margin company in large-cap tech. Shares rose 16% in premarket trading Thursday.
A sustained shortage of high-bandwidth memory used in AI data centers has pushed chip prices sharply higher over the past year. Micron’s numbers show just how much. The memory crunch has disproportionately benefited U.S. producers. Micron’s report lifted semiconductor stocks broadly in Asian trading Wednesday night, reviving an AI trade that had faced pressure for much of the week.
Sources
Micron stock jumps over 16% in premarket trading after blockbuster earnings
The company’s revenue more than quadrupled from $9.3 billion a year earlier to $41.46 billion, it reported on Wednesday.
Micron is tech’s new margin king as memory crisis pushes company past Nvidia and Meta
Micron said in its earnings report that its gross margin jumped to 84.9% from 39% a year ago.
The memory chip crunch is paying off for this US company
Revenue quadrupled to $41.45 billion compared with the same period a year ago. The company’s profit rose from $1.88 billion to $28.2 billion year-over-year.
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