Micron Technology, Inc. (MU) shares are trading higher Friday, riding what appears to be momentum from Dell's impressive quarterly performance and forward-looking guidance.
The connection? Investors seem to be reading Dell's results as a broader indicator of strength across the tech sector, which bodes well for chip demand.
Dell delivered adjusted earnings per share of $2.59, comfortably beating the $2.47 consensus estimate. Revenue came in at $27.00 billion, just shy of the $27.12 billion analysts expected.
The real excitement came from Dell's forward guidance. The company projected fourth-quarter adjusted EPS of $3.50, absolutely crushing the consensus estimate of $2.23. Dell also bumped up its full fiscal year 2026 adjusted EPS guidance from $9.55 to $9.92, versus the $9.55 consensus.
MU Price Action: At the time of writing, Micron shares were trading 2.62% higher at $236.29, according to market data.
