3h ago
Asian stocks climb after Micron posts $41.46 billion quarterly revenue on AI-driven demand
U.S. chipmaker Micron Technology reported fiscal third-quarter revenue of $41.46 billion, up fourfold from a year earlier, and adjusted EPS of $25.11, both well above expectations. The company said it has signed 16 long-term supply agreements that secure about $22 billion of revenue commitments over the next three to five years, while gross margin rose to 84.9%. Japanese and South Korean equities rallied on the news, with the Nikkei 225 up 3.78% in early trade and the Kospi gaining 5.22%, as investors bought AI- and chip-linked stocks.