Micron Technology has overtaken Nvidia and Meta to become Wall Street's new 'margin king,' reporting a gross margin of 84.9% in its latest quarter. This marks a significant increase from 74.9% in the prior period and 39% a year earlier, propelling Micron's shares up by 15% on Wednesday. The company's gross margin now surpasses Meta's 81.9% and Nvidia's 75%, driven by robust demand for high-bandwidth memory chips amid the ongoing AI infrastructure buildout [1].
In related semiconductor news, South Korea's SK Hynix has filed for a $29.4 billion ADR listing on the Nasdaq, which would be the second-largest U.S. listing on record after SpaceX. SK Hynix shares surged as much as 11% in Thursday trading following the announcement. The company recently surpassed Samsung Electronics as Seoul's most valuable firm, highlighting the growing influence of AI-related chipmakers in global markets [1].
Qualcomm also experienced a 15% share price jump after raising its fiscal 2029 non-handset revenue forecast to $40 billion, nearly doubling its previous projection of $22 billion. Qualcomm is aggressively expanding into data centers, unveiling the Dragonfly C1000 CPU, which Meta is set to use starting in 2028 for agentic AI applications, emphasizing energy efficiency [1].
The broader market context includes declining oil prices, with U.S. crude futures falling below $70 for the first time since March, as geopolitical tensions in the Middle East ease and oil tankers resume passage through the Strait of Hormuz [1].
CONCLUSION
Micron's record-setting profit margins and share price surge underscore the explosive demand for AI-related semiconductors, reshaping the competitive landscape among major tech firms. The massive SK Hynix Nasdaq listing and Qualcomm's bullish forecasts further highlight the sector's momentum. Market sentiment remains strongly positive for semiconductor stocks, driven by AI infrastructure growth.