Micron’s 346% Revenue Surge and Qualcomm’s $40B Target Lift Nvidia Futures
NVDA•Extended-session futures climbed as Nasdaq 100 futures rose nearly 2%, driven by Micron’s 346% revenue surge to $41.5 billion and Qualcomm’s fiscal 2029 revenue target increase to $40 billion. Nvidia shares ticked up about 0.5% after-hours as investors bet on memory supply constraints and robust AI data-center demand boosting GPU sales.
1. Futures Rally on Chip Earnings
U.S. equity futures reversed an overnight downtrend with Nasdaq 100 futures up nearly 2%, Dow futures gaining 0.06% and S&P 500 futures rising 0.54% as strong results from key chipmakers boosted investor sentiment.
2. Micron’s Record Quarter and Supply Constraints
Micron reported a 346% year-over-year jump in quarterly revenue to $41.5 billion and noted customers committed $22 billion for memory supplies, forecasting supply constraints through fiscal 2028.
3. Qualcomm’s Growth Targets
Qualcomm raised its non-handset revenue goal to $40 billion by fiscal 2029—including $15 billion from data-center chips—and expanded partnerships, signaling stronger competition in AI infrastructure.
4. Nvidia’s Market Response
Nvidia shares ticked up roughly 0.5% in after-hours trade as investors positioned for sustained GPU demand amid memory chip shortages and continued AI data-center build-outs.
