MU First Take: Revenue and GPM came in well above market expectations this quarter. With shipments up modestly, growth was driven primarily by steep increases in memory pricing. The company has resegmented its biz.; by unit: Beyond faster growth in the Cloud Memory BU (CMBU), the Core Data Center BU (CDBU) and the Mobile & Client BU (MCBU) were the main growth drivers this quarter, supported by sharp price hikes in traditional memory products. Guidance for next quarter is well above consensus. Micron guides next-quarter revenue of $33.5bn (±$750mn). QoQ growth of $9.6bn tops the market's $26.8bn expectation.GPM is guided to ~81%, well above buy-side at 76%. This points to another major round of memory price hikes next quarter. Based on current memory pricing, the near-term 'blowout' in results is largely priced in. In a broad memory upcycle, investors care more about 'sustainability' than the peak level of earnings. Beyond the earnings beat, focus on management commentary around long-term contract orders and customer fulfillment. Also watch the demand outlook for 2027 and beyond. If more customers are willing to lock in supply through long-term agreements, earnings durability improves. For details, follow Dolphin Research's upcoming commentary and Trans. $Micron Tech(MU.US) $Direxion Daily MU Bear 1X Shares(MUD.US) $Direxion Daily MU Bull 2X Shares(MUU.US)

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TREASURIES-US yields rise as Fed keeps rates steady, emphasizes resilient growth

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Micron (MU) Q2 2026 Earnings Call Transcript

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AI drives a storage boom, Micron's revenue nearly doubled last quarter, and this quarter's guidance greatly exceeded expectations, with fiscal year spending expected to surge | Earnings Report Insights

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The Federal Reserve continues to hold steady as expected, noting the uncertainty of Middle Eastern impacts, raising inflation expectations, and still anticipating one rate cut this year

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Global stock markets rise for three consecutive days, South Korean stocks break through 5900 points, oil prices decline, and the market awaits the Federal Reserve's decision

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On Wednesday (March 18), at the New York close, the yield on the U.S. 10-year benchmark Treasury rose by 6.65 basis points to 4.2650%. Before the release of the U.S. PPI inflation data, the yield maintained a slight decline, followed by a rebound. The Federal Reserve announced that it would keep interest rates unchanged and disclosed the economic outlook summary, leading to a further increase in yields after Powell's press conference. The yield on the two-year U.S. Treasury rose by 9.93 basis points to 3.7729%

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Powell: There will be no interest rate cuts before inflation improves, will not leave the Federal Reserve during the survey period, and will serve as acting chair if necessary (full text attached)

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The NASDAQ Golden Dragon China Index closed down 1.9% preliminarily. Among popular Chinese concept stocks, Weibo fell 10.8%, Tencent Music dropped 9.4%, QFIN fell 8.3%, Li Auto decreased by 5.1%, Tencent Holdings fell 4.7%, and PDD dropped 3.5%. Several stocks, including BYD, saw declines of over 1%. Canadian Solar and Century Internet rose by no more than 1.5%. New Oriental increased by 3.6%, ZTO EXPRESS rose by 7.3%, and Kingsoft Cloud climbed 12.6%

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Powell is hawkish, traders expect only a 50% chance of interest rate cuts this year, U.S. stocks, bonds, and gold have seen increased declines, and the dollar has strengthened

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Powell: Currently, there is no possibility of the U.S. experiencing a repeat of the stagflation similar to that of the 1970s

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The yield on the U.S. two-year Treasury note rose above 3.74%, hitting a daily high, with an increase of about 7 basis points. Powell stated that "the possibility of a rate hike has indeed been mentioned for the next step."

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U.S. Treasury prices decline further, Powell states that interest rate cuts depend on inflation progress

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Powell: The growth rate of the U.S. economy is solid, and inflation above target mainly exists in the commodity sector

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Federal Reserve: Raises U.S. GDP growth forecast, raises PCE inflation expectations for this year and next, raises unemployment rate forecast for next year

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The Federal Reserve FOMC interest rate decision (lower limit) is 3.5%, expected 3.5%, previous value 3.5%

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The Federal Reserve FOMC interest rate decision (upper limit) is 3.75%, expected 3.75%, previous value 3.75%

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HSBC: The stock market is pricing in a "recession" rather than "stagflation," and there are oversold opportunities in emerging markets

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Aluminum prices hit a four-year high! Middle East conflict disrupts supply, analysts target the $4,000 mark

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