Micron Soars on AI Chip Momentum

Raleigh News Today | 2 Min News | The Daily News Now! · Jun 27, 2026 · 1m

Micron’s stock soared over 15% after a blockbuster Q3 earnings report, fueled by AI-driven demand and a major milestone: launching its advanced 1-alpha DRAM at its Virginia plant. Revenue jumped 70% quarter-over-quarter and 345% year-over-year, while net income exploded 1,400% YoY — defying memory chip industry norms. The company locked in 16 strategic, take-or-pay customer deals across data centers, consumer, and automotive sectors, boosting revenue predictability. Bank of America raised its price target and reiterated a buy rating, citing these agreements as key to stabilizing the…