chip

Published on
25/06/2026 – 10:43 GMT+2

Micron, one of only a handful of companies able to make advanced memory chips at scale, said on Wednesday that revenue in the third quarter reached $41.4 billion (€36.5bn), more than four times the $9.3 billion (€8.2bn) it recorded in the same period last year.

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The figure also comfortably beat the roughly $35.7 billion (€31.4bn) analysts had forecast, while profit climbed even more dramatically.

The Idaho-based group posted net income of $28.24 billion (€24.9bn), or $24.67 per share, against less than $2 billion (€1.7bn) a year ago. Adjusted earnings of $25.11 a share sailed past the $20.49 expected.

The market reaction to the impressive results was immediate.

Micron shares rose more than 15% in after-hours trading to around $1,213, leaving the company valued at roughly $1.16 trillion (€1tn).

The stock has now climbed about 700% over the past year, one of the most dramatic re-ratings of any large company through the AI boom, reflecting a fundamental shift in the economics of the AI build-out.

The vast data centres being constructed by hyperscalers such as Amazon, Microsoft, Google and Meta, which have collectively earmarked hundreds of billions of dollars in capital spending this year, depend on enormous quantities of high-bandwidth memory, a specialised chip that sits alongside the processors made by Nvidia and others.

Micron has said its entire 2026 output of these chips is already sold out under fixed-price contracts.

According to CEO Sanjay Mehrotra, the results reflect what he called the strategic value of memory in the AI era.

The company pointed to a series of multi-year customer agreements that it expects to make earnings more durable and predictable, a notable claim in an industry long defined by brutal boom-and-bust cycles.

Margins to rival the biggest names

What has startled analysts most is Micron’s profitability.

The company reported a gross margin of around 85% for the quarter, a level that now rivals or exceeds those of far larger technology names such as Nvidia and Meta, an extraordinary position for a memory maker historically squeezed by volatile chip prices.

The tightness of supply, with new factories not expected to add meaningful output until 2028, has handed producers exceptional pricing power.

Micron’s guidance was more striking still.

The company expects revenue of around $50 billion (€44bn) in the current quarter and adjusted earnings of roughly $31 a share, implying the boom is accelerating rather than fading. It is ramping up investment to match, lifting planned capital spending to about $27 billion (€23.7bn) this fiscal year and signalling a further jump in 2027, management told analysts during the earnings call.

The results offer reassurance to investors betting that AI infrastructure spending remains robust, with Micron’s order book serving as a real-time gauge of that demand.

The open question, as ever in the memory industry, is how long the upswing can last before supply catches up. Even the most bullish observers acknowledge that risk has not completely disappeared.

South Korean stocks soared by more than 5 percent Thursday, briefly topping the 9,000-point level again, driven by a tech rally ignited by U.S. chip giant Micron Technology’s expectation-beating earnings report. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 459.28 points, or 5.42 percent, to close at 8,930.30, following a 3.26 percent gain the previous day.

The index briefly topped the 9,000-point threshold, rising as high as 9,044.04.

Finishing at an all-time high of 9,114.55 on Monday, the KOSPI has remained in the 8,000-point range since it dived 9.99 percent Tuesday.

The index pulled off a strong start, with a buy-side sidecar issued shortly after the market opened, as Micron, the world’s No. 3 memory chipmaker, released its stronger-than-expected quarterly earnings, brushing off lingering concerns about the sustainability of an artificial intelligence (AI) rally.

Micron is a major beneficiary of the AI infrastructure spending boom along with Samsung Electronics and SK hynix thanks to rising demand for memory chips and high-bandwidth memory (HBM).

Trade volume was heavy at 449.3 million shares worth 50.4 trillion won (US$32.7 billion), with losers beating winners 588 to 289.

Institutions purchased a net 3.3 trillion won worth of stocks, while foreigners and individuals dumped a net 819.7 billion won and 2.5 trillion won, respectively.

“Micron’s strong financial report pushed up semiconductor shares here,” Kim Seok-hwan, an analyst at Mirae Asset Securities, said. “Airline shares also rose as the Strait of Hormuz seemed to reopen and global oil prices dropped.”

Samsung Electronics, the world’s largest memory chipmaker, jumped 5.29 percent to 358,500 won, and No. 2 SK hynix surged 13.06 percent to 2.9 million won.

SK Square, the parent of SK hynix, advanced 5.56 percent to 1.9 million won, and Samsung C&T, which holds a stake in Samsung Electronics, soared 7.79 percent to 519,000 won.

Flag air carrier Korean Air vaulted 6.4 percent to 29,100 won, and Asiana Airlines mounted 6.2 percent to 7,710 won.

Brokerages were also strong as Samsung Securities rose 3.07 percent to 110,800 won, and Kiwoom Securities gained 7.48 percent to 337,500 won.

The Korean won was quoted at 1,542.7 won per U.S. dollar as of 3:30 p.m., down 0.9 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 1.5 basis points to 3.757 percent, and the return on the benchmark five-year government bonds declined 2.2 basis points to 3.992 percent.

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South Korean stocks finished at an all-time high Monday on a continued rally in semiconductor shares amid signs of progress in U.S.-Iran talks to end their monthslong war in the Middle East. The local currency lost against the U.S. dollar.

After opening 1.08 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) added 62.13 points, or 0.69 percent, to 9,114.55 after rising as high as 9,253.00.

Trade volume was moderate at 377.2 million shares worth 41.4 trillion won (US$26.9 billion) with losers outnumbering winners 739 to 148.

Retail investors and institutions were net buyers, purchasing 2.15 trillion won and 308.4 billion won, respectively, while foreign investors sold a net 2.55 trillion won.

On Sunday, Washington and Tehran wrapped up their first talks and agreed on a road map to reach a final deal within 60 days, according to a statement issued by the mediating countries of Qatar and Pakistan.

The negotiations had been at risk of breakdown as Tehran said it had closed the Strait of Hormuz and U.S. President Donald Trump had repeated his threats to resume attacks on Iran.

“Negotiations went smoothly in general despite some aggressive messages, which were considered short-lived noises,” said Kang Jin-hyeok, an analyst from Shinhan Securities.

Semiconductor shares ended in positive territory.

Chip giant SK hynix jumped 5.61 percent to 2.92 million won, surpassing Samsung Electronics in terms of market capitalization for the first time.

SK Square, the parent of SK hynix, surged 10.67 percent to 1.97 million won, and Hanmi Semiconductor, a leading chip manufacturing equipment provider, increased 2.2 percent to 301,500 won.

Defense giant Hanwha Aerospace advanced 0.27 percent to 1.13 million won, and Korea Aerospace Industries (KAI) climbed 1.43 percent to 148,600 won.

However, Samsung Electronics dropped 0.14 percent to 353,500 won, and Samsung Electro-Mechanics, an electronic components manufacturing affiliate of Samsung Electronics, lost 1.85 percent to 2.23 million won.

Top carmaker Hyundai Motor decreased 5.22 percent to 581,000 won, and leading battery maker LG Energy Solution dipped 4.7 percent to 385,500 won.

Samsung Life Insurance slid 9.36 percent to 450,500 won, and pharmaceutical giant Samsung Biologics retreated 5.75 percent to 1.3 million won.

The Korean won was quoted at 1,537 won against the U.S. dollar, down 10 won from the previous session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 2.6 basis points to 3.810 percent, and the return on the benchmark five-year government bonds added 3.9 basis points to 4.044 percent.

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BEIRUT, Lebanon, June 19 (UPI) — The Iran war may be over, but southern Lebanon is likely to remain a battlefield and a bargaining chip in regional negotiations, despite Lebanon’s inclusion in the memorandum of understanding between Iran and the United States — a provision Israel rejected to preserve its freedom of action against Hezbollah, analysts said.

Violence in southern Lebanon subsided after the United States and Iran announced a 14-point preliminary agreement to end hostilities, reopen the Strait of Hormuz, and begin nuclear talks under a 60-day extended ceasefire.

The MOU was signed remotely on Wednesday by U.S. President Donald Trump and Iranian President Masoud Pezeshkian, two days ahead of a formal signing ceremony scheduled to take place in Switzerland.

Rather than a cessation of hostilities, southern Lebanon witnessed a sharp escalation in fighting, with Israel intensifying its airstrikes and Hezbollah targeting Israeli forces seeking to seize the strategic Ali Taher hill in the Nabatiyeh district. Both sides traded accusations of violating the ceasefire established under the MOU.

The overnight exchange left 47 people dead, including women and children, and 97 others wounded in Israeli strikes on several areas of Lebanon, including Nabatiyeh and the eastern Bekaa Valley. Four Israeli soldiers, including a lieutenant colonel, were also killed by Hezbollah fire.

Israeli airstrikes continued beyond a new ceasefire between Israel and Hezbollah, brokered by the United States and Qatar with Iranian assistance, and set to take effect at 4 p.m. Friday.

It remains to be seen how long this new truce will last, as is the case with the U.S.-Iran ceasefire, given ambiguities in the MOU and differing interpretations of its clauses.

Israel, which rejected Trump’s “betrayal” and the agreement with Iran, is seeking to change the arrangement by force in order to preserve its freedom of action against Hezbollah threats in southern Lebanon. It also seeks to maintain control of a security zone in southern Lebanon and is not willing to withdraw its forces unless its northern region is secured and safe.

Riad Tabbarah, Lebanon’s former ambassador in Washington, said Israel believes it has the right, as it usually does, to modify the agreement on the ground after “accepting it on paper, so as not to annoy Trump.”

“This is exactly what they did last time, and what they do every time,” Tabbarah told UPI. “Today, they are doing the same.”

He was referring to the Nov. 27 ceasefire agreement brokered by the United States and France to halt the war that began when Hezbollah opened a support front for Gaza on Oct. 8, 2023.

Despite the truce, Israel continued to carry out strikes against Hezbollah, which refrained from retaliation for 15 months as it sought to reorganize its ranks before resuming fighting on March 2 in support of Iran.

The March escalation increased the human and material toll in Lebanon after Israel applied what was described as a “scorched earth” policy to empty border areas of residents and render them uninhabitable.

More than 3,980 people have been killed and 12,001 injured in the past 109 days, with 1.2 million displaced under Israeli evacuation orders. Large areas were devastated, including the complete destruction of 70 villages and heavy damage to infrastructure.

It would be “pure imagination and illogical” to think that Israel would easily withdraw and relinquish the security zone it is building in southern Lebanon, intended to prevent anyone from crossing its border and carrying out kidnappings like Hamas did from Gaza on Oct. 7, 2023, according to Tabbarah.

What could stop the frustrated Prime Minister Benjamin Netanyahu from sabotaging Trump’s efforts to finalize a lasting peace deal with Iran and continuing his military campaign in Lebanon?

The tension between Trump and his administration on one side, and Netanyahu and his government officials on the other, over the Iran deal “is growing, and we need to wait and see how it will develop,” said Lebanese former foreign minister Fares Boueiz.

As for Iran, Boueiz noted that as long as it believes it is benefiting from the deal with Trump, it “won’t do anything to jeopardize the understanding.”

“It is clear that the U.S.-Iran war is over, with no winner and no loser and no complete victory for anyone,” he told UPI. “The next 60 days will determine whether a final agreement is reached and whether Netanyahu will be able to obstruct it.”

The fear that Lebanon remains an open battlefield and a bargaining chip has grown, despite Iran’s pledge to Hezbollah that it will not proceed with the MOU talks if Israel fails to observe a full ceasefire in Lebanon and withdraw from the southern region.

Lebanese retired Maj. Gen. Abdul Rahman Chehaitli argued that the war in south Lebanon was “an Iran-Israel war sponsored by the U.S.”

“Now that Iran has reconciled with the U.S., signed an agreement, and is negotiating, the battle is over for them,” Chehaitli said in an interview with UPI. “This means that Lebanon should work toward a solution with Hezbollah and engage in serious negotiations to secure Israel’s withdrawal and end any illegitimate armed presence.”

Lebanon, which opted for U.S.-mediated direct talks with Israel to end the war despite Hezbollah’s objections, is preparing for another round of diplomatic talks with Israel scheduled to take place in Washington next week.

While Hezbollah leader Sheikh Naim Qassem has set new terms for the talks, saying they should be limited to “mutual security,” Israel is insisting on disarming the Iran-backed group and keeping it away from its borders.

Hezbollah has also been pushing to drop the Lebanon-Israel direct negotiations in favor of the U.S.-Iran track.

“Hezbollah can say whatever it wants, but Lebanon should negotiate on its own,” Chehaitli said, adding that the militant group “is concerned about the day after, seeking security guarantees or immunity.”

Lebanon has no option but to negotiate its way out of the war, but the process will be long, and southern Lebanon will remain under Israeli fire and a bargaining chip in Iran’s hands until a final deal with Washington is reached, according to some analysts.

Tabbarah argued that Israel did not go through all this war only to back down, while Iran seeks a high price in return for Hezbollah and its other regional armed proxies.

“I don’t think Iran will go to war again. It will find a formula to save face for its armed militias,” he said, adding that the U.S., on its part, will have to restrain Israel and force Netanyahu to accept a full ceasefire in Lebanon.

He explained that a decision by Trump to stop U.S. military assistance to Israel, or “anything of the sort,” would be a serious step.

Tabbarah, however, warned that the solution “is not for tomorrow unless Israel drops its dream of establishing Greater Israel.”

Seoul stocks surged by more than 2 percent past another historic landmark, surpassing the 9,000-point level for the first time in history, as investors bet on chipmakers in the face of a hawkish stance by the Federal Reserve and Iran uncertainty.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 199.6 points, or 2.25 percent, to 9,063.84, after rising as high as 9,106.07.

The KOSPI continued its winning streak for the sixth consecutive session on the back of optimism over artificial intelligence (AI) and related sectors.

Trade volume was heavy at 505.9 million shares worth 49.9 trillion won (US$32.7 billion). Foreigners were net buyers, snatching up 1.3 trillion won, while retail and institutional investors net sold a combined 1.2 trillion won.

Losers outnumbered gainers 109 to 788.

The index bucked overnight losses on Wall Street caused by Fed policymakers’ remarks that a rate hike would be inevitable to tame inflation.

The continued rally was led by the country’s two major chipmakers, Samsung Electronics and SK hynix, said analyst Kim Seok-hwan from Mirae Asset Securities.

“Investors are anticipating that semiconductor companies could gain better bargaining power due to a sustained supply bottleneck,” the analyst said.

A risk appetite was also revived on anticipation the U.S.-Iran war is nearing its end. The United States has said Iran has agreed to reopen the Strait of Hormuz, a key oil shipping route, and revealed a signed memorandum of understanding on ending the war.

The rate freeze from the Fed, the fourth consecutive on-hold decision, appeared to have a limited impact on investor sentiment.

Market top cap Samsung Electronics rose 4.62 percent to 362,500 won, while its rival SK hynix jumped 6.51 percent to 2,685,000 won.

Non-semiconductor sectors lost ground.

Defense giant Hanwha Aerospace fell 2.86 percent to 1,189,000 won, ship builder HD Hyundai Heavy Industries retreated 3.25 percent to 684,000 won, and major financial firm KB Financial inched down 0.55 percent to 163,100 won.

The Korean won was quoted at 1,527.1 won against the U.S. dollar, down 13.7 won from the previous session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 4 basis points to 3.75 percent, and the return on the benchmark five-year government bonds added 5.2 basis points to 3.949 percent.

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Jude Bellingham has said the external “noise” around his place in the England team may help him find his best form during the World Cup.

One of the main talking points around selection before England’s first group game against Croatia was whether boss Thomas Tuchel would select Real Madrid’s Bellingham or Aston Villa’s Morgan Rogers in the number 10 role behind captain Harry Kane.

Bellingham was chosen to start in Dallas and scored England’s crucial third goal just after half-time, with Marcus Rashford adding a fourth late on to complete a 4-2 win.

“For me personally, it was nice to put some of the noise aside and just show my country and my team-mates how committed I am to help us try to win football matches,” the 22-year-old, who is appearing in a fourth consecutive major tournament for England, told BBC Sport.

“To contribute, to help my team and help my country is one of the biggest honours and regardless of the noise outside, that honour doesn’t change for me at all.”

Bellingham conceded that it has been a “bit of a tougher season for me”, with the start of his 2025-26 campaign disrupted by injury, his club side in Spain ending up eight points behind eventual champions Barcelona and his place in the national team under scrutiny.

But Bellingham said he feels “fresh and sharp” heading into the tournament and it was “nice to hear” comments from colleagues such as Jordan Henderson, who said the former Birmingham City and Borussia Dortmund player gives England an “X-factor”.

Asked if he has entered the World Cup with added impetus, Bellingham said: “A little bit – I think I’ve got a little bit of a chip on my shoulder, haven’t I?”