Micron's Q3 Earnings Beat, Driven by AI Demand, Sparks Global Semiconductor Rally

Micron Technology Inc. reported a significant fiscal third-quarter earnings beat, primarily attributed to robust demand for high-bandwidth memory (HBM) and data-center DRAM, essential components for generative AI. This strong performance has led to a more than 15% surge in Micron's stock in after-hours trading and triggered a broader recovery across global semiconductor and hardware indices. The company also provided an optimistic Q4 revenue outlook of $50 billion (plus or minus $1 billion).