In June, the Nasdaq-100 index, made up of the 100 largest non-financial stocks on the Nasdaq exchange, experienced a remarkable month, climbing by 6.3%. Notably, two tech giants outperformed this impressive growth. Here’s their performance breakdown and the reasons behind it.
1. Micron Technology
Last month, the share price of Micron Technology (MU) rose by a significant 30.5%, making it the top performer in the Nasdaq-100 index. This tech company specializes in designing and manufacturing data storage products, which are crucial for generative artificial intelligence (AI). Given the burgeoning interest in AI as many view it as a promising growth opportunity in its early stages, this sector has been attracting a lot of investor attention lately.
At the tail end of June, Micron Technology disclosed its financial results for the third fiscal quarter, which concluded on May 29th. During this period, they reported a revenue of $9.3 billion, marking a 15.5% increase compared to the last quarter and a 36.6% surge from the same timeframe a year prior. Notably, their high-bandwidth memory (HBM) used for AI training demonstrated a growth of 50% when compared to the previous quarter.
The company’s management anticipates earnings between $10.4 billion and $11 billion in the final quarter, representing a 15% increase compared to the previous quarter when considering the average of their predictions.
2. Arm Holdings
Arm Holdings’ shares saw a significant surge of 29.9% in June. This company specializes in designing, developing, and licensing central processing units (CPUs) for semiconductor and original equipment manufacturing companies such as Apple and Nvidia.
This year, Arm Holdings’ stock experienced significant fluctuations. Initially, its share price plummeted from around $122 to approximately $85 in April following the announcement of extensive tariffs. However, the shares subsequently rebounded and ended up nearly at $146 on July 11.
The upward trend in June’s price seems linked to a broader optimistic mood following the Trump administration postponing certain tariff rollouts. Arm Holdings disclosed their fiscal fourth-quarter earnings at the beginning of May. For the March 31 period, their revenue surged by 34% compared to the previous year, amounting to $1.2 billion.
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2025-07-18 01:04