Micron (MU) Jumps 7% on Christmas Rush, Strong Earnings

We recently published Big Winners: 10 Stocks Refusing to take a Holiday. Micron Technology Inc. (NASDAQ:MU) is one of the last week's best performers.

Micron managed to eke out a 7.1 percent gain week-on-week despite dipping in the red on Friday, amid a combination of Christmas rush and strong investor confidence, supported by its strong earnings performance and highly optimistic outlook for the fiscal year 2026.

In an updated report the week prior, Micron Technology Inc. (NASDAQ:MU) said that it more-than-doubled its net income during the quarter to $5.24 billion from $1.87 billion in the same period last year. Revenues climbed by 56 percent to $13.6 billion from $8.7 billion year-on-year, beating its earlier midpoint guidance of $12.5 billion. The cloud memory and mobile and client business units contributed the bulk of the revenues.

Following the results, Micron Technology Inc. (NASDAQ:MU) said that it is now targeting revenues in the second quarter to climb even higher, at $18.7 billion at the midpoint.

Diluted earnings per share are also pegged at $8.19 at the midpoint.

“Our Q2 outlook reflects substantial records across revenue, gross margin, EPS and free cash flow, and we anticipate our business performance to continue strengthening through fiscal 2026. Micron’s technology leadership, differentiated product portfolio, and strong operational execution position us as an essential AI enabler, and we are investing to support our customers’ growing need for memory and storage,” said Micron Technology Inc. (NASDAQ:MU) Chairman, President, and CEO Sanjay Mehrotra.

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Disclosure: None. This article is originally published at Insider Monkey.