Micron Q3 beats spark 11% after-hours jump on strong AI-driven demand
MU•Micron Technologies beat Q3 earnings and revenue estimates by a wide margin and issued robust guidance for the next quarter based on surging AI-driven memory demand. The stock jumped 11% after hours, lifting the Nasdaq 100 ETF 1.5% and driving broader semiconductor sector gains.
1. Micron Q3 Results
Micron reported Q3 revenue and adjusted earnings that topped consensus estimates by wide margins, driven by strong sales of DRAM and NAND memory chips for data center and AI applications.
2. After-Hours Market Reaction
Shares of Micron surged 11% in after-hours trading following the release, marking one of the largest single-session jumps for the stock this year.
3. Guidance and AI Demand
Management projected revenue growth next quarter, citing escalating demand for memory chips in AI training and inference systems as the primary growth driver.
4. Sector and Index Impact
Although the S&P 500 and Nasdaq 100 fell 0.1% and 0.4% respectively during regular trading, Micron's results lifted the Nasdaq 100 ETF 1.5% after hours and provided momentum for semiconductor peers.
