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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. Micron surged 12% in extended trade after forecasting quarterly earnings above analysts' estimates, signaling that heavy investments in AI-related infrastructure will drive strong demand for its memory chips. Also after the bell, Qualcomm said it expects $15 billion in sales from its data center business by 2029 as it moves beyond its core smartphone chip business and shifts its focus to AI.
When you think about memory chips, you might think of South Korea. That’s because semiconductor companies Samsung Electronics and SK Hynix dominate that market. But Micron Technology, Inc. (MU) has been gaining momentum. The Idaho-based company is the only US manufacturer of cutting-edge DRAM ...
Broader tech sell-off continued on Wednesday as investors awaited Micron earnings to judge the demand for AI and memory chips.
<body><p>STORY: U.S. stocks ended mixed on Wednesday, with the Dow gaining just over a third of a percent, while the S&P 500 edged slightly lower and the Nasdaq lost more than four-tenths of a percent.</p><p>Investors were intensely focused on chip maker Micron Technology's results after the closing bell. The stock, which has surged more than 200% this year, climbed in extended trading on Wednesday, after Micron forecast quarterly earnings above Wall Street estimates, signaling that heavy investments in AI-related infrastructure will drive strong demand for its memory chips.</p><p>Michael Landsberg is chief investment officer at Landsberg Bennett Private Wealth Management.</p><p>"What's happened now is with AI, a lot of these chips are needed to make AI work faster and better. So the demand has really been strong across the entire sector. We think it continues. And that's really, I think, why this rally in that space has got some legs. And we think it could continue for a while."</p><p>Several tech stocks, however, slid during Wednesday's session, including chip designer Cerebras, which tumbled more than 19%. In its first report since going public, Cerebras forecast full-year profit margins would drop below first-quarter figures. </p><p>Concerns around debt-backed AI spending by hyperscalers and mounting fears of a more hawkish Federal Reserve have fueled a market downturn this week that has erased more than $1 trillion in market value from the Nasdaq 100.</p><p>Among the session's other stock moves, homebuilders soared after President Donald Trump canceled a planned signing of bipartisan legislation aimed at speeding up availability of affordable housing. Shares of Hovnanian Enterprises, PulteGroup and Toll Brothers all ended higher.</p><p>And shares of Hertz tumbled more than 40% after the car-rental firm said it expects second-quarter adjusted core earnings near the lower end of its forecast range and announced a proposed offering of $100 million of common stock.</p></body>
Investing.com - Micron Technology Inc (NASDAQ:MU) delivered the strongest quarterly results in its history after Wednesday's close, posting fiscal third-quarter 2026 revenue of $41.46 billion against a Wall Street consensus of $35.69 billion, a 16.2% beat, and earnings per share of $25.11 versus the $20.49 estimate, a 22.6% upside surprise. The print sent Micron shares up roughly 12.6% in extended trade to around $1,180.97, recovering from a regular-session close of $1,047.20.
Micron Technology, which has seen its value triple this year, said revenue quadrupled in the second quarter and forecasted that rapid growth will continue due to near-insatiable demand for its memory chips. Shares surged by more than 15% in after-hours trading after the company beat Wall Street expectations in virtually every financial metric watched closely by investors, including sales, earnings per share, adjusted gross margin and the company’s forecast. Micron and its peers make chips that have become a central component in the artificial-intelligence boom, helping to facilitate the high-powered computing needed by top AI models.
Micron surged overnight on strong earnings and guidance, lifting other memory and chip plays. The Fed's favorite inflation gauge is on tap.
Micron (MU) reported third quarter results on Wednesday after the closing bell. Adjusted earnings per share (EPS) came in at $25.11 (compared to analyst estimates of $20.49), and revenue came in at $41.46 billion (compared to analyst estimates of $35.69 billion). CFRA Research senior vice president and equity analyst Angelo Zino chats with Yahoo Finance about the results.
Investing.com -- Memory-chip maker Micron Technology topped Wall Street expectations in its fiscal third quarter and issued significantly stronger-than-expected guidance for the current quarter, sending shares up about 9% in after-hours trading as investors cheered continued AI-driven demand for memory chips.
The lesson from Micron's blowout Q3 earnings is that AI customers are treating memory like a bottleneck they cannot afford to leave to chance.
The lesson from Micron's blowout Q3 earnings is that AI customers are treating memory like a bottleneck they cannot afford to leave to chance.
Micron (MU) reported third quarter results on Wednesday after the closing bell. Adjusted earnings per share (EPS) came in at $25.11 (compared to analyst estimates of $20.49), and revenue came in at $41.46 billion (compared to analyst estimates of $35.69 billion). Yahoo Finance's Josh Lipton takes a closer look at the breaking numbers and guidance.
Micron Technology forecast quarterly revenue above Wall Street estimates on Wednesday, signaling that insatiable demand for AI-related infrastructure will continue to drive strong demand for its memory chips. Shares of the company rose around 4% in extended trading. The company expects fourth-quarter revenue of $50 billion, plus or minus $1 billion, compared with analysts' average estimate of $43.58 billion, according to data compiled by LSEG.
Micron Under Pressure Ahead of Earnings, Options Market Flashes Warning
Needham recently raised its price target on Micron Technology (MU) to $1,550 from $500, tripling its outlook two days before the company’s earnings report. That kind of leap usually follows a blowout quarter, not before one. Hours after the new target sent shares higher, Micron stock reversed hard ...
CJ Muse went on CNBC this morning and made the case that the memory cycle most investors are watching does not actually peak where they think it peaks. “The real takeaway for memory is that supply is going to be even tighter in 27 than 26,” the Cantor Fitzgerald semiconductor analyst said, “and because of ... Cantor’s CJ Muse Says a 2027 Memory Squeeze Could Power Micron’s Earnings Through 2028
Investing.com -- SpaceX's stock market debut proved to be one of the most dominant single-stock events moomoo's U.S. platform has seen, with more than half of all active traders on the platform trading SPCX on IPO day and the stock generating nearly eight times more orders than the second-most traded name.
By Chuck Mikolajczak NEW YORK, June 24 (Reuters) - The U.S. dollar rose for a third straight day on Wednesday to hit a 13-month high as markets brace for anticipated rate hikes from the Federal
Heavily shorted Wendy's stock is soaring after gaining traction on Reddit. The rally suggest a short squeeze is in action.
AI chipmaker Micron Technology (MU) is due to report its fiscal third quarter earnings results after Wednesday's market close. The company's stock has gained by 270% year-to-date in 2026. Morning Brief Host Julie Hyman, Yahoo Finance Breaking News Reporter Jake Conley, and Opening Bell Media CEO Phil Rosen discuss how much higher Micron's stock could run following this earnings report.
Retail investors flooded into Wendy's stock after the struggling chain named a new CFO, with short interest above 23% fueling squeeze speculation
The buy-the-dip mindset on hot tech stocks is currently being challenged.
Investing.com - U.S. stock index futures were mixed on Wednesday, with the S&P 500 and Nasdaq edging higher after a bruising two-day selloff in technology and semiconductor shares. Investors were also looking ahead to earnings from memory chipmaker Micron for fresh clues on the outlook for artificial intelligence-related demand.
As tech and software stocks take a hit on Tuesday, memory chipmaker Micron Technology (MU) has dropped by as much as 12% in the session. Shares are still maintaining gains of over 270% in 2026 ahead of the company's latest earnings this Wednesday, June 24. Yahoo Finance Senior Business Reporter Ines Ferré and Mariner Wealth Advisors chief investment strategist Jeff Krumpelman take a closer look at what Wall Street is expecting from Micron's fiscal third quarter earnings results.
The spotlight is on chipmaker Micron Technology as it prepares to report earnings, with investors bracing for further volatility following sharp market swings fueled by large flows tied to SpaceX and a two-day boom-bust in semiconductor stocks. Last June, Micron was a well-known if somewhat obscure company with a market value of $136 billion and a long history, but not necessarily one whose quarterly earnings reports caught investors' fancy. Fast forward a year, and Micron is one of the stars of the technology rally that has sent chipmakers around the world soaring, igniting a fresh trading frenzy even after a dozen or more months of AI excitement.
By Mike Dolan June 24 (Reuters) - What matters in U.S. and global markets today By Mike Dolan, Editor-at-Large, Finance and Markets An 8% plunge in the high-flying U.S. chip stock index on Tuesday