Micron shares surge as CoreWeave lifts 2026 revenue outlook
CoreWeave announced a 2026 revenue outlook of $13.0 billion to $13.3 billion, up from its prior range, and reported a $132.5 billion backlog. The news prompted Micron Technology shares to jump about 13% on November 11. Micron reported fourth‑quarter revenue of $54.23 billion and non‑GAAP EPS of $33.42, and it guided fiscal first‑quarter 2027 revenue to $61.5 billion, plus or minus $1.5 billion.
Why it matters
The stock rally gives investors a short‑term price gain, while the company’s guidance of $61.5 billion revenue signals continued strong demand for memory products. The forward earnings multiple remains low, suggesting valuation could stay attractive if guidance holds.
Key facts
- 1CoreWeave raised its 2026 revenue outlook to $13.0 billion‑$13.3 billion. finance.yahoo.com
- 2CoreWeave’s backlog reached $132.5 billion. finance.yahoo.com
- 3Micron’s fiscal fourth‑quarter revenue was $54.23 billion. fxleaders.com
- 4Micron’s non‑GAAP EPS for the quarter was $33.42. fxleaders.com
- 5Micron guided fiscal Q1 2027 revenue to $61.5 billion, plus or minus $1.5 billion. fxleaders.com
- 6Micron stock rose about 13% on November 11. fxleaders.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.