US Stock Market Move | Chip stocks collectively soared, with Micron Technology, Inc. (MU.US) rising more than 17%.

On Thursday, chip stocks surged collectively, with Micron Technology, Inc. (MU.US) and SanDisk (SNDK.US) rising by over 17%, Seagate Technology Holdings PLC (STX.US) and Qualcomm (QCOM.US) by over 9%, Western Digital Corporation (WDC.US) by over 8%, Intel Corporation (INTC.US) by over 6%, Advanced Micro Devices, Inc. (AMD.US) by over 5%, and ASML Holding NV ADR (ASML.US) by over 4%. After the market close on June 24, Micron Technology, Inc. released its strongest quarterly report of the fiscal year to date, with core indicators such as revenue, gross margin, and earnings per share significantly exceeding Wall Street expectations. The guidance for the next quarter is also well ahead of market consensus. For the third fiscal quarter ending in May 2026, Micron Technology, Inc. reported revenue of $41.456 billion, surpassing Wall Street consensus by over 14% and a year-on-year increase of 345.7%; non-GAAP earnings per share of $25.11, exceeding market expectations by about 19%. The NAND business in particular exceeded expectations significantly, with revenue surpassing market consensus by about 28%. The guidance for the next quarter is also strong: the midpoint of the fourth fiscal quarter revenue guidance is $50 billion, about 14.5% higher than market consensus; non-GAAP earnings per share guidance is at $31, which is about 19% higher than market consensus; gross margin guidance is at 86%, also higher than Wall Street expectations by about 108 basis points. This indicates that the upward pricing momentum will continue into the next quarter, and the margin of outperformance has not narrowed. Analysts such as James Schneider from Goldman Sachs Group, Inc. stated in a research report on June 24 that despite the sustained pricing momentum in the DRAM and NAND markets raising investor expectations, Micron's actual performance and guidance still significantly outpace the market. Goldman Sachs Group, Inc. expects the market to focus on management's adjustments to the 16 strategic customer agreements (SCAs), FY27 capital expenditure outlook, and the latest views on the traditional DRAM and NAND submarkets. Goldman Sachs Group, Inc. believes that with the continued strengthening of pricing momentum in the DRAM and NAND markets, this performance powerfully confirms that the storage industry's uptrend cycle is accelerating and expects the stock price to further increase.