U.S. stock markets have rebounded to near all-time highs less than three months after a significant drop following President Donald Trump’s “Liberation Day” tariffs announcement. Investors are cautiously optimistic, as economic indicators related to unemployment and inflation remain stable, suggesting minimal immediate impact from the tariffs.
Micron Technology reported a strong fiscal third quarter, with revenue growth of 37% and a gross margin improvement from 26.9% to 37.7%. The company is the sole U.S. manufacturer of advanced memory chips and has received $6.2 billion from the CHIPS Act for expanding production. Advanced Micro Devices also showed robust growth in its first quarter, with a 36% revenue increase to $7.4 billion, driven by demand for its EPYC CPU and Instinct GPU chips.
Key financial highlights from Micron include nearly 50% growth in high-bandwidth memory and adjusted earnings per share rising from $0.62 to $1.91. AMD’s revenue in the data center segment jumped by 57%, contributing to a market advantage over competitors. Analysts predict adjusted earnings per share of $5.71 for AMD by 2026.
