Micron Technology Has Fantastic News for This Artificial Intelligence (AI) Infrastructure Stock That Has More Than Doubled in 2026
Shares of Lam Research have soared this year as the company is benefiting from the tremendous demand for memory manufacturing equipment.
Overview
Micron Technology (NASDAQ: MU) delivered fantastic results for the third quarter of fiscal 2026 (which ended on May 28) on June 24. The memory specialist not just crushed Wall Street's expectations by a mile, but its guidance made it clear that the red-hot demand for memory chips isn't going away any time soon.
Micron stock jumped nearly 16% after its blowout quarterly report. The company's performance lifted other memory stocks as well, and Lam Research (NASDAQ: LRCX) was one of them. Lam Research supplies semiconductor manufacturing equipment to chipmakers, foundries, and memory manufacturers. Its shares jumped over 7% following Micron's results. Let's see why that was the case.
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Originally published at www.fool.com.