Micron Technology helped propel Vanguard Information Technology ETF to a 49.3% gain as its shares were the fund’s second-largest contributor. The company reported record quarterly revenue and earnings per share driven by surging AI demand for memory and storage and forecasts further records ahead.
Micron Technology was the second-largest contributor to Vanguard Information Technology ETF’s 49.3% return over the past year, reflecting strong memory stock performance. Its weight and rally offset significant drags like Microsoft’s 20.1% decline, highlighting Micron’s outsized fund impact.
In its most recent quarter, Micron reported record revenue and earnings per share powered by strong sales of DRAM and NAND memory products across data center and consumer segments. These results marked the highest quarterly profitability in company history.
Micron anticipates further revenue and EPS records as accelerating AI workloads fuel global memory and storage demand. Management highlighted investments in advanced manufacturing nodes to increase capacity and meet projected growth in artificial intelligence applications.
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