Historical financial report released: Micron memory supply exceeds demand, gross margin hits a new high of 68%, stock price rises for two consecutive daysMicron Technology, the major memory chip manufacturer, recently reported financial results and outlook that completely exceeded market expectations, igniting strong buying interest on Wall Street. Following a 10.21% surge in the previous trading day, Micron's stock price rose another 5.69% today, reaching $263.80 per share, approaching the 52-week high of $268.38, with a two-day cumulative increase of over 16%.
Earnings and outlook beat expectations, causing Micron's stock to skyrocket over 16% in two days
Micron announced its Q1 FY2026 financial results yesterday, which were described as "historic" by multiple investment banks. Adjusted earnings per share (EPS) reached $4.78, and revenue hit $13.64 billion, both surpassing market forecasts. What further shocked the market was the company's extremely strong outlook for the second quarter, estimating revenue of approximately $18.7 billion and EPS as high as 8.42.
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