Micron reported a record fiscal Q3 after Wednesday's close: revenue of $41.46B (vs. ~$35.3B est.) and adjusted EPS of $25.11 (vs. ~$20.83 est.), with a record 84.9% gross margin and roughly $25B in data-center revenue. The Q4 guide stunned the Street — about $50.0B (±$1.0B) in revenue and non-GAAP EPS near $31.00 — and management cited roughly $100B in remaining performance obligations from strategic customer agreements. Shares jumped ~13% after hours and were up about 17% in premarket trade this morning.
Micron's upbeat memory demand outlook eased fears that AI infrastructure spending is cooling, and the read-through rippled across semis. In premarket trade, AMD rose about 4%, Intel advanced more than 5%, and Nvidia gained roughly 1.4%. The move marks a sharp reversal from this week's risk-off slide in the AI trade.
The Micron beat lit up Asia's memory leaders, where HBM and DRAM pricing power is the dominant theme. SK Hynix climbed roughly 13% and Samsung Electronics rose about 5%, with SK Hynix recently overtaking Samsung as South Korea's most valuable company. Samsung and SK Hynix have pushed HBM3E supply prices up nearly 20% for 2026 amid surging AI-accelerator demand.
At Nvidia's annual shareholder meeting Wednesday, CEO Jensen Huang pushed back on AI-ROI skeptics and said the Vera Rubin architecture has entered full-scale production, positioning it for the AI-agent era after Blackwell's inference dominance. He flagged "physical AI" — robots and autonomous systems — as the next growth wave, and reiterated a plan to return 50% or more of free cash flow to shareholders going forward.
Oracle fell 4.6% to $157.53 Wednesday, extending a brutal month — down about 18.4% in June and 19.5% year-to-date. The company beat fiscal Q4 estimates and posted 17.4% revenue growth, but announced a 13% workforce reduction as it redirects capital toward a roughly $70B AI data-center build-out that analysts flagged as a near-term margin headwind.
MongoDB dropped 5.77% to $302.44 even after beating on both revenue and EPS, as investors took profits following a strong run. The decline fed a broader unease about whether premium AI-software multiples can hold.
GF Securities upgraded Super Micro from Hold to Buy, sending shares up 15.66% to $35.46 with a $48 price target implying roughly 55% upside from the prior close. The AI-server maker remains well off its peak, but the call leans on durable hyperscaler and enterprise demand for AI infrastructure.
AMD has been one of 2026's standout chip names, up roughly 132% year-to-date, and UBS raised its price target to $670. That follows Citigroup's earlier move to $575 on June 12, underscoring Wall Street's growing conviction in AMD's AI-accelerator and data-center trajectory.
Even as the broad AI trade wobbled, Dell rose 1.47% to $434.06 on roughly 87.5% revenue growth tied to AI-optimized server demand, and Taiwan Semiconductor gained 1.02% to $440.83. Both names highlight that the picks-and-shovels layer of the AI build-out stayed firm into Micron's print.
IonQ stayed active, trading in a $52.36–$58.70 range around the mid-$50s, after Duke University and IonQ demonstrated distributed tripartite entanglement across a three-node quantum network and Fixstars Amplify integrated IonQ's trapped-ion environment for optimization workloads. The quantum cohort remains a high-beta satellite of the AI-compute theme.
