Micron Reignites The AI Trade
Record-Breaking Quarter
- Micron delivered its biggest quarter ever
- Revenue surged to $41.46B, up more than 4x YoY
- Guided next quarter revenue to nearly $50B, well above expectations
- Stock jumped 13% after hours
A Dramatic Turnaround
- Just days ago, AI and memory stocks were selling off on fears that AI spending was slowing
- Micron’s results flipped that narrative, showing demand is still accelerating
The Entire Sector Rallied
- SanDisk and Western Digital rose around 10% after hours
- Qualcomm gained 13%
- SK Hynix climbed 12%
Oil, Inflation & Markets
- US crude fell near $70, easing inflation concerns
- Gold slipped below $4,000 for the first time in months
- US 10-year Treasury yield eased to 4.40%
Corporate Watch
- Alphabet joins the Dow on Monday, replacing Verizon
Why India Matters
- Micron now operates India’s first commercial chip plant in Sanand, Gujarat, already shipping made-in-India memory chips.