Micron Technology’s (MU) Q3 2026 earnings report landed on June 24, giving the AI trade a badly needed jolt.
Goldman Sachs had cautioned that the positioning was bullish, expectations were high, and the stock’s huge run left little room for disappointment
Then Micron delivered more than a beat. Revenue, margins, and guidance came in well above consensus, while management outlined long-term customer agreements that could make the memory cycle appear less volatile than Wall Street once assumed. As noted in TheStreet’s live blog, covered by tech reporter Noah Weidner, the reaction was immediate.
According to Reuters, Micron shares jumped nearly 12% in extended trading after it pointed to booming AI memory demand and a whopping $22 billion in customer commitments to secure chip supply. As of this writing, Micron’s stock price is $1,048 per share. On top of that, the read-through spread quickly across memory and chip stock names.