The enthusiasm comes as Micron delivered remarkable Q1 FY2026 results, with revenue climbing 56.7% year-over-year to $13.64 billion and net income soaring 175.4% to $5.24 billion. The company's 38.4% net profit margin is stunning. Operating cashflow reached $8.41 billion in the quarter. Attention intensified following comments from Nvidia's CEO about AI storage demand, which sent memory chip stocks surging across the board.
Thermo Fisher posted Q3 revenue of $11.12 billion, up 4.9% year over year, and delivered $5.79 in earnings per share against estimates of $5.50. That marked the company's 14th earnings beat in the last 16 quarters. The consistency reflects a diversified product portfolio across scientific instruments, reagents, and consumables serving research labs, hospitals, and biopharma customers. Danaher's Q3 was more complicated. Revenue reached $6.05 billion, up 4.4%, and the company beat estimates with $1.89 per share versus $1.72 consensus.
Make no mistake, Nvidia delivered a fantastic number, but let's not kid ourselves: expectations were heightened going into the quarter. Though Nvidia's figures signal that the ongoing AI revolution is still alive and well, the latest round of results lacked the awe factor that may now be needed to move the needle higher on a $4.25 trillion firm that the retail sector has been buying up aggressively in recent years.
"BP is much less interested in telling the public about the number of coffees it sells each year and is now focused on how much oil it can extract," Brooks said, poking at former CEO Bernard Looney.