On June 25, Silicon Motion Technology rose 8.19% in pre-market trading, trading at $349.01/share, with turnover of $215,400.
On the news front, Micron Technology released its fiscal Q3 earnings after hours on June 24, delivering record-shattering results that ignited the entire storage sector. Micron reported revenue of $41.46 billion, up 346% year-over-year and well above the $35.69 billion consensus estimate. Adjusted gross margin reached 84.9%, with net income of $28.24 billion, all setting single-quarter records. More notably, Micron guided Q4 revenue to approximately $49-51 billion, far exceeding the $43.24 billion market expectation. Management stated that storage supply shortages will persist beyond 2027, and disclosed 16 long-term strategic supply agreements locking in high pricing levels.
Silicon Motion, as the global leading independent SSD controller chip designer, stands to benefit directly from the structural tightening in NAND supply. The company's SVP Nelson Duann had previously warned that the NAND shortage is only beginning, with data centers absorbing 70-80% of capacity and new fab output not materializing until late next year at the earliest. Among sector peers, Micron Technology surged 16.84% and Intel rose 6.02%, reflecting strong sector-wide momentum.
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