Micron and SK Hynix post record earnings amid AI memory boom

Micron reported third‑quarter revenue of $41.4 billion, far exceeding analysts’ $35.7 billion forecast, and posted net profit of $28.24 billion, or $24.67 per share. The company’s gross margin hit roughly 85%, and its shares jumped more than 15% to about $1,213, lifting its market value to roughly $1.16 trillion. Micron said its full‑year 2026 production of high‑bandwidth memory chips is already pre‑sold and projected revenue of about $50 billion and adjusted earnings of $31 per share for the current quarter, with 2024 capital spending around $27 billion.

South Korean memory‑chip maker SK Hynix announced a Nasdaq American Depositary Receipt offering that could raise up to $29.6 billion. The company plans to issue 17.79 million new ADRs, with trading slated to begin on 10 July. The move is intended to broaden its investor base and highlight its role in AI‑driven memory demand. SK Hynix also disclosed a major semiconductor fab in Yeonggwang, slated for operation in 2027, and a $4 billion advanced chip‑packaging plant in Indiana, USA. Its stock rose more than 11% following the announcement, adding to a year‑to‑date gain of over 300% that has lifted other Asian tech stocks.