Micron's Blockbuster Earnings Lift Nasdaq Composite and S&P 500

Barry Adams
25 Jun, 2026
New York City

Stocks in New York advanced, reversing losses from the previous session amid a renewed demand for memory chip makers. 

The S&P 500 Index increased 0.5%, and the tech-focused Nasdaq Composite advanced 2.2% following a surge in semiconductor stocks. 

Micron Technology reported solid results in the fiscal third quarter and guided a strong sales outlook in the current quarter. 

The fellow chipmakers—SanDisk, Western Digital, Lam Research, and Applied Materials—rose in sympathy after Micron's latest earnings results. 

Market sentiment was also bolstered after crude oil prices eased for the fourth consecutive session and fell below the pre-wartime levels. 

West Texas Intermediate crude oil prices decreased 1.1% to $69.56 a barrel, nearly wiping all gains made since the start of the Middle East conflict. 

Investors held out for a rising flow of crude oil to global markets through the Strait of Hormuz as progress in U.S.-Iran talks improved the supply outlook. 

On the economic front, investors reviewed May's personal consumption expenditures price index, and the alternative measure of inflation held steady. 

The headline index held steady at a monthly 0.4% and accelerated to an annual 4.1% from 3.8% in the previous month, respectively, according to the latest report released by the Bureau of Economic Analysis. 

Core PCE, which excludes volatile food and energy prices, advanced monthly by 0.3% and annually by 3.4%.

 

U.S. Movers 

Micron Technology soared 17.7% to $1,234.52 after the computer memory maker reported solid results in the fiscal third quarter ending in May. 

Revenue soared to $41.5 billion from $9.3 billion, net income advanced to $28.2 billion from $1.9 billion, and diluted earnings per share rose to $24.67 from $1.68 a year ago. 

The company estimated revenue in the fiscal fourth quarter to jump to $50 billion from $11.3 billion a year ago. 

Revenue in the cloud memory unit soared fourfold to $13.7 billion from $3.3 billion; the core data center business unit advanced sevenfold to $11.5 billion from $1.5 billion; the mobile and client business unit jumped nearly fourfold to $11.5 billion from $3.2 billion; and the automotive and embedded business unit increased fourfold to $4.6 billion from $1.1 billion a year ago. 

Gross margin as a percentage of revenue jumped to 84.6% from 74.4% in the previous quarter and 37.7% in the period a year ago.