The broader market also provided support, with S&P 500 futures rising 0.7% before the opening bell.
Micron’s Results Lift Memory Stocks
Micron reported fiscal third-quarter adjusted earnings of $25.11 per share on revenue of $41.46 billion, with an adjusted gross margin of 84.9%.
For the fiscal fourth quarter, the company forecast adjusted earnings of about $31 per share on revenue of approximately $50 billion.
Following the earnings release, Susquehanna analyst Mehdi Hosseini told CNBC that Micron’s results highlight the premium customers are willing to pay for memory used in AI servers.
