Micron Technology Has Fantastic News for This Artificial Intelligence (AI) Infrastructure Stock That Has More Than Doubled in 2026
Yahoo Finance ·
Micron Technology ( MU 4.33% ) delivered fantastic results for the third quarter of fiscal 2026 (which ended on May 28) on June 24. The memory specialist not just crushed Wall Street's expectations by a mile, but its guidance made it clear that the red-hot demand for memory chips isn't going away any time soon. Micron stock jumped nearly 16% after its blowout quarterly report. The company's performance lifted other memory stocks as well, and Lam Research ( LRCX 7.94% ) was one of them. Lam Research supplies semiconductor manufacturing equipment to chipmakers, foundries, and memory manufacturers. Its shares jumped over 7% following Micron's results. Let's see why that was the case. Micron's fiscal Q3 revenue shot up by 346% year over year to $41.5 billion last quarter. However, its earnings per share grew by a whopping 1,215%. Micron management noted on the latest earnings call that demand for both dynamic random-access memory (DRAM) and NAND flash "continues to significantly exceed industry supply."
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