Micron Surges 14% After Reporting Record Q3 Revenue and Positive Outlook
WHO:
CNBC - Micron Technology, Inc. is the company reporting the financial results.
WHAT:
ABC News - Qualcomm announced a new computer chip for data centers called Dragonfly C1000 CPU that Meta plans to use.
ABC News - The Kospi index in South Korea hit a new record, surging 5.9% to 8,968.22.
ABC News - The S&P 500 fell 0.1% to 7,358.22, while the Dow Jones Industrial Average rose 10.4% to 51,848.90.
ABC News - The tech-heavy Nasdaq composite fell 0.4% to 25,476.64.
ABC News - Economists expect the Personal Consumption Expenditures price index (PCE) to show that prices rose 4.1% in May, the highest level in three years.
Bloomberg Markets - Micron's financial report highlighted that artificial intelligence is a major vector for growth in the semiconductor industry.
ABC News - Micron Technology's shares jumped nearly 16% in afterhours trading after it upgraded its forecast and exceeded analysts' estimates.
ABC News - Qualcomm’s share price surged 12% in afterhours trading after the company announced it had raised its forecast for revenue this year to $40 billion from $22 billion.
CNBC - Micron reported Q3 revenue of $41.46 billion, which is a 346% increase year-over-year.
CNBC - The reported revenue exceeded the estimated $35.84 billion.
CNBC - Micron's gross margin was above estimates.
CNBC - Micron forecasts Q4 revenue to be above estimates.
CNBC - Micron's stock (MU) jumped over 14% in after-hours trading.
WHERE:
CNBC - The financial results pertain to Micron Technology, which is based in Boise, Idaho.
WHEN:
CNBC - The Q3 revenue report was released on a Wednesday.
WHY:
CNBC - The significant increase in revenue is attributed to the continued demand for memory products.
HOW:
ABC News - The Federal Reserve is concerned about rising inflation due to tariffs increasing costs for many goods and the impact of the war on energy and shipping prices.
CNBC - Micron's revenue growth is linked to its performance in the memory market, which has seen increased demand.
(UPDATED June 25, 2026 13:40 UTC)
Qualcomm has unveiled a new computer chip for data centers called the Dragonfly C1000 CPU, which Meta plans to utilize. In market news, the Kospi index in South Korea surged 5.9% to reach a new record of 8,968.22, while the S&P 500 dipped slightly by 0.1% to 7,358.22, and the Dow Jones Industrial Average rose impressively by 10.4% to 51,848.90. Meanwhile, economists are predicting that the Personal Consumption Expenditures price index will show a 4.1% increase in May, marking the highest level in three years, as the Federal Reserve expresses concern over rising inflation driven by tariffs and the ongoing war affecting energy and shipping costs.
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(UPDATED June 25, 2026 08:07 UTC)
Micron's latest financial report reveals that artificial intelligence is becoming a significant driver of growth in the semiconductor industry. This insight comes from a recent update shared by Bloomberg Markets. As companies continue to invest in AI technologies, the demand for semiconductors is expected to rise.
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(UPDATED June 25, 2026 06:20 UTC)
Micron Technology's shares soared nearly 16% in afterhours trading following an upgraded forecast that surpassed analysts' expectations. Similarly, Qualcomm's share price surged 12% after the company announced it would raise its revenue forecast for the year to $40 billion, up from $22 billion. Both companies' impressive performances reflect strong confidence in their future prospects.
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(UPDATED June 24, 2026 23:25 UTC)
Micron Technology, based in Boise, Idaho, has reported impressive financial results, revealing Q3 revenue of $41.46 billion, marking a staggering 346% increase year-over-year and surpassing estimates of $35.84 billion. The company also noted that its gross margin exceeded expectations and forecasts Q4 revenue to be above estimates, leading to a significant jump of over 14% in Micron's stock during after-hours trading. This remarkable growth is largely attributed to the ongoing demand for memory products in the market.