Micron Technology (MU) Soars 10% on Stellar Earnings, Record 2026 Outlook

We precocious published 10 Firms Stealing the Show connected Wall Street. Micron Technology, Inc. (NASDAQ:MU) is 1 of the champion performers connected Thursday.

Micron Technology snapped a five-day losing streak connected Thursday, jumping 10.12 percent to adjacent astatine $248.55 apiece arsenic investors took bosom from its stellar net show successful the 3rd 4th of the year, with profits much than doubling during the period, alongside a robust outlook successful the existent quarter.

In an updated report, Micron Technology, Inc. (NASDAQ:MU) said that nett income jumped by 180 percent to $5.24 cardinal from $1.87 cardinal successful the aforesaid play past year, portion revenues roseate by 56 percent to $13.6 cardinal from $8.7 cardinal year-on-year.

“Micron delivered grounds gross and important borderline enlargement astatine the institution level and besides successful each of our concern units,” Micron Technology, Inc. (NASDAQ:MU) Chairman, President, and CEO Sanjay Mehrotra said, adding that it projects the 2nd 4th of the twelvemonth to deed caller records.

For the existent quarter, revenues are targeted astatine $18.7 billion, positive oregon minus $400 million, portion diluted net per stock are pegged astatine $8.19, positive oregon minus $0.20.

“Our Q2 outlook reflects important records crossed revenue, gross margin, EPS, and escaped currency flow, and we expect our concern show to proceed strengthening done fiscal 2026. Micron’s exertion leadership, differentiated merchandise portfolio, and beardown operational execution presumption america arsenic an indispensable AI enabler, and we are investing to enactment our customers’ increasing request for representation and storage,” helium added.

While we admit the imaginable of MU arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.