Micron’s Blowout Quarter Lifts AI Chip Stocks and Gives Bitcoin a Small Lift

Quick overview

Micron Technology had a quarter that even the company’s own bulls might not have seen coming. The stock shot up 16% before the bell on Thursday, and the earnings explain why. Revenue came in at $41.5 billion, well past the $35.7 billion Wall Street was expecting, and per-share earnings landed at $25.11 against a forecast of $20.49. Management did not stop there. They guided next quarter’s revenue to around $50 billion, blowing past the $43.2 billion analysts had penciled in.

That kind of beat does not stay contained to one stock. SanDisk and SK Hynix each rose around 13% on the back of it. SK Hynix in particular is worth watching right now. The company controls a huge share of the high-bandwidth memory market, the kind of chips that sit at the center of AI training, and there is word it may be looking at a US stock listing that could value the business near $30 billion.

CEO Sanjay Mehrotra did not hedge when analysts pressed him on supply. His answer was that there is simply no realistic timeline where production catches up with how much memory the AI industry wants. He expects the shortage to run well beyond 2027, which is not the kind of forecast that suggests relief is coming anytime soon for buyers.

Bitcoin’s response to all this was mixed, and honestly that makes sense. It did push back above $60,000, trading around $61,136 after the news broke, but that small bounce sits inside a much bigger and less flattering story. Money has been pouring into AI stocks all year, and a lot of that money used to go toward crypto. Bitcoin is still sitting more than 50% below the high it hit back in October, and another headline this strong out of the chip sector does not exactly help close that gap.

Miners with AI exposure caught a piece of the rally too. IREN and Cipher Digital both moved up roughly 3% before the open, a reminder that part of the mining sector now overlaps directly with the AI infrastructure trade that has otherwise been pulling attention away from crypto.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

Micron Set to Smash $1,500 Barrier After Epic Fiscal Q3 2026 Earnings Beat

7 h ago

Save

MU Stock Tests $1,000 Level as Micron Earnings Anxiety Keeps Investors on Edge

20 h ago

Save

Nesa Crypto Launches on Binance Alpha Today

23 h ago

Save