24/7 Wall Street
26 Jun 2026, 17:40 UTC · 1h ago
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5 claims · each scored for market impact
Micron Technology reported Q3 revenue of $41.46 billion, beating consensus by 17.6%, with GAAP gross margins surging to 84.6% from 37.7%. — Significant earnings beat and margin expansion indicate high immediate demand and pricing power for AI memory.
+0.80Micron has signed multi-year Strategic Customer Agreements that lock in demand for its next-generation HBM4 chips. — Binding long-term contracts provide high revenue visibility and validate the sustained AI infrastructure build-out.
+0.60Qualcomm targets $15 billion in annual data center AI chip sales by 2029, but its primary data center CPUs will not ship until 2028. — The multi-year gap between the target and product availability forces investors to value the company on a speculative roadmap rather than current revenue.
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Qualcomm's Q2 FY26 revenue fell 3.46% year-over-year, with handset revenue dropping 13% due to Chinese OEM weakness and memory constraints. — Declines in the core handset business offset the optimism surrounding the long-term AI data center pivot.
-0.30Qualcomm announced a $3.92 billion acquisition of AI software firm Modular and a CPU supply agreement with Meta Platforms. — These moves establish a software ecosystem and a high-profile customer, though the actual product shipment remains years away.
+0.20Which stocks this story touches
Reported a significant revenue beat, strong EPS growth, and secured multi-year agreements for HBM4.
The company is described as having a technical monopoly with massive quarterly data center revenue growth.
The company is cementing a strong second-place market position with significant deployments like the MI450.
The article highlights that current data center targets rely on chips that don't exist yet and notes falling handset revenue.
Mentioned as a customer for both Qualcomm and AMD, indicating strategic AI infrastructure investment.
[mutual] Nvidia and AMD are primary competitors in the AI chip market.
[mutual] Nvidia and Qualcomm compete in the AI data center chip market.
[a_to_b] Qualcomm has a multi-year CPU supply agreement with Meta Platforms.
[mutual] AMD and Qualcomm compete for market share in the AI data center segment.
[a_to_b] AMD is deploying MI450 chips anchored by Meta.
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