This stock went up 720% in one year. And then its earnings single-handedly lifted the entire stock market.
I am talking about Micron. Not Nvidia. Not Apple. A memory chip company.
On Wednesday night Micron reported its quarterly earnings. By Thursday morning $400 billion in market value had been added across the semiconductor sector. Qualcomm up. Broadcom up. ASML up. Western Digital up. All because of what one company said.
So what exactly did Micron say?
Revenue of $41 billion for the quarter. Up from $9 billion just one year ago. Gross margins of 84%. Earnings that beat Wall Street estimates by over 20%.
Every single number was a record.
But here is the part that actually matters.
Micron makes something called HBM. High-bandwidth memory. Think of Nvidia’s GPU as the engine of an AI system. HBM is the fuel line. Without enough of it the engine chokes. And Micron is the only American company that manufactures it.
Now the world’s biggest tech companies, the ones building AI infrastructure at scale, are so worried about running out of this chip that they paid $22 billion upfront to lock in future supply. Five year contracts. Cash deposits. Before the chips are even made. Total contracted revenue across all agreements: $100 billion.
And when asked when supply will finally catch up with demand, Micron’s CEO said he simply does not know. Tight conditions expected beyond 2027.
720% in a year. And this story is nowhere close to over.
To read the full blog, click: Micron Q3 2026 Record Earnings: Decoding the CapEx Warning