Micron Technology (MU)
Micron surged 11% in after‑hours trading after delivering a massive beat on both top‑line and bottom‑line figures for its fiscal third quarter, driven by strong AI‑related memory demand. The company provided forward guidance for the fourth quarter, projecting revenue of $49 billion to $51 billion, well above the Wall Street consensus of $43.24 billion.
Qualcomm Inc (QCOM)
Qualcomm’s shares climbed 9% following its 2026 Investor Day, where management outlined an aggressive diversification roadmap away from handset reliance. The chipmaker projected $40 billion in non‑handset revenue by fiscal year 2029, with the data‑center business alone expected to generate “billions” of dollars by 2027 as it expands into data‑center and automotive technologies.
JPMorgan Chase & Co. (JPM)
JPMorgan led major banks higher after successfully passing the Federal Reserve’s annual stress tests, demonstrating a “fortress balance sheet.” In response, the board announced a 10% increase in the quarterly dividend to $1.65 per share and approved a $50 billion share‑buyback program. The announcement also lifted sector peers, with Goldman Sachs, Wells Fargo, and Morgan Stanley preparing to boost their own shareholder payouts.
Peer Movements
The strong results and announcements lifted related stocks: Western Digital and SanDisk rose in sympathy with Micron’s performance, while the aforementioned financial‑services peers gained on the broader positive sentiment.