Micron Stock Soars 15% on Upbeat 3Q Revenue Outlook, Gross Margin Gains

Micron Technology Inc. experienced a significant surge, with its stock soaring 15% after announcing an adjusted revenue outlook for 3Q that exceeded estimates. The company attributed this optimistic forecast to solid sequential improvements in fiscal Q3 gross margins, driven by robust price increases across both DRAM and NAND sectors. Micron's CEO highlighted the expected profitability improvements in D5 and other DDR products. Additionally, Micron provided guidance on achieving a High Bandwidth Memory (HBM) bit share equivalent to its overall DRAM bit share by CALENDAR 2025. Amidst this positive outlook, Micron also delivered upbeat guidance after swinging to a surprise profit in Q2, further elevating investor confidence.