Micron Stock Rally Persists as South Korea Drops AI Tax Plan
Micron Technology Inc. (MU) continues its historic stock rally, driven by unprecedented demand for AI infrastructure memory solutions, despite a brief selloff triggered by South Korea's initial AI tax proposal. The South Korean government has since walked back the proposal, rendering the market dip a non-event. Micron's stock has surged 700% over the past year, outperforming the S&P 500 Information Technology index significantly, reaching a peak of $818.67. This growth is underpinned by record-breaking financial results for the second quarter of 2026, where revenue jumped 196% year-over-year to $23.86 billion, and non-GAAP earnings hit $12.20 per share, beating analyst estimates. The company's Cloud Memory division and data center NAND revenue were key drivers. Looking ahead, Micron forecasts strong third-quarter performance with expected revenue of $33.5 billion and improved gross margins. Reflecting confidence in its structural growth trajectory, the board also approved a 30% increase in its quarterly dividend, solidifying its transition from a traditional hardware supplier to a critical player in the global AI ecosystem.
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Micron Stock Rally Persists as South Korea Drops AI Tax Plan
Micron Technology Inc. (MU) continues its historic stock rally, driven by unprecedented demand for AI infrastructure memory solutions, despite a brief selloff triggered by South Korea's initial AI tax proposal. The South Korean government has since walked back the proposal, rendering the market dip a non-event. Micron's stock has surged 700% over the past year, outperforming the S&P 500 Information Technology index significantly, reaching a peak of $818.67. This growth is underpinned by record-breaking financial results for the second quarter of 2026, where revenue jumped 196% year-over-year to $23.86 billion, and non-GAAP earnings hit $12.20 per share, beating analyst estimates. The company's Cloud Memory division and data center NAND revenue were key drivers. Looking ahead, Micron forecasts strong third-quarter performance with expected revenue of $33.5 billion and improved gross margins. Reflecting confidence in its structural growth trajectory, the board also approved a 30% increase in its quarterly dividend, solidifying its transition from a traditional hardware supplier to a critical player in the global AI ecosystem.