Micron Technology Shares Soar Nearly 16% After Forecast Upgrade and Earnings Beat
MU•MU•MU•MU•Micron Technology surpassed consensus earnings estimates for the quarter and raised its full-year revenue guidance, driving its shares up nearly 16% in after-hours trading. The unexpected upgrade underscores robust demand for its memory products and marks the largest post-earnings jump among major chipmakers.
Micron Technology surpassed consensus earnings estimates for the quarter and raised its full-year revenue guidance, signaling stronger-than-expected demand in its memory and storage segments.
Shares of Micron vaulted nearly 16% in after-hours trading following the results and guidance boost, marking the largest post-earnings gain among major global chipmakers on Thursday.
The sharp rally in Micron shares contributed to a tech-led surge across Asian markets, with Japan’s Nikkei 225 jumping 4.1% and South Korea’s Kospi climbing 5.9% on heavy chip-stock buying.
