Micron Technology (MU) shares rose 5.5% as of 2:24 P.M. ET on Wednesday, October 28, after rival SK Hynix reported strong third-quarter results. SK Hynix posted revenue up 328% year over year to 104.6 trillion won ($78.9 billion) and operating profit up 632%, and said it expects demand to exceed supply through 2030 due to the difficulty of manufacturing advanced chips and the time needed to build factories. The article says tight supply could support Micron's pricing power, noting its latest revenue of $54.23 billion (up from $11.32 billion) and GAAP net income of $37.70 billion (up from $3.2 billion). It also cautions that the memory industry has traditionally followed boom-and-bust cycles.
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MicronsemiconductorsSK HynixearningsNVDA
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| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/27/2026 | 217.88 |
| Change that session | +0.87% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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