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News
Wednesday, September 24, 2025
What’s happening: Shares of Micron Technology gained in after-hours trading on Tuesday, following the release of the company’s results for its fiscal fourth quarter.
What happened: The memory chip maker posted better-than-expected sales and earnings for the latest quarter.
Micron also issued an upbeat revenue outlook for the first quarter amid rising demand for AI hardware.
How were the results: The Boise, Idaho-based company reported strong sales growth for its fiscal fourth quarter ended August 28, 2025.
Why it matters: Micron supplies high-bandwidth memory (HBW) chips for some of the most popular semiconductors of Nvidia, the world’s most valuable company. Soaring demand for AI datacentre chips helped Micron raise prices and volumes of its advanced memory chips.
Micron’s HBM revenue jumped to around $2 billion in the fourth quarter, indicating an annualised run rate of almost $8 billion, CEO Sanjay Mehrotra said during the earnings call. The company is on track to locking in agreements that would sellout its HBM chips for 2026 in the upcoming months.
“In fiscal 2025, we achieved all-time highs across our data centre business and are entering fiscal 2026 with strong momentum and our most competitive portfolio to date. As the only U.S.-based memory manufacturer, Micron is uniquely positioned to capitalize on the AI opportunity ahead,” Mehrotra added.
The company’s board announced a quarterly dividend of 11.5 cents per share, payable on October 21 to stockholders of record as of October 3.
Micron guided to revenues of $12.5 billion, plus or minus $300 million, for the fiscal first quarter, higher than market estimates of $11.93 billion. The company also projected adjusted earnings of $3.75 per share, plus or minus 15 cents, beating consensus of $3.04 per share.
How shares responded: Micron’s shares rose 0.4% to $167.13 in the extended trading hours on Tuesday. The stock has jumped around 43% over the past month.
What to watch: Investors will continue monitoring AI investments by the tech giants, with Micron’s stock almost doubling in value year to date.
Context: The EUR/USD forex pair edged lower this morning as investors digested the latest economic data.
Details: Data released on Tuesday showed the HCOB Eurozone composite PMI rising to 51.2 in September, from 51 in the previous month. The figure was broadly in-line with market estimates of 51.1 and represented the fastest growth in private sector activity in 16 months.
Services growth topped market estimates, while the manufacturing activity fell back into the contraction zone, while missing market expectations. By country, data from France disappointed markets, whereas readings from Germany came in better than expectations.
The European Central Bank recently signalled that its interest-rate cutting cycle may be over due to persistent inflation concerns.
Some strength in the US dollar weighed on the EUR/USD pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, rose around 0.1% to 97.32 this morning.
The EUR/USD forex pair fell around 0.1% to 1.1808 this morning, while the EUR/GBP pair edged higher to 0.8737.
What to watch: Data on Germany’s Ifo business climate (1200 UAE Time), Ifo current conditions (1200 UAE Time) and Ifo expectations (1200 UAE Time) will be released today. Germany’s Ifo business climate index, which climbed to 89 in August from 88.6 in the previous month, is expected to rise further to 89.3 in September.
Analysts expect the Ifo current conditions index for Germany to rise to 86.5 in September from 86.4 in August, while the Ifo expectations index is projected to jump to 92 in September from 91.6 in the previous month.
Other Markets: US trading indices closed lower on Tuesday, with the Dow Jones index, S&P 500 and Nasdaq 100 down by 0.19%, 0.55% and 0.73%, respectively.
US President Donald Trump accused India and China of funding Russia’s war in Ukraine. The news sent the RUB/USD pair higher in forex trading this morning.
Argentina’s retail sales jumped by 19.6% year-over-year in July, slowing from the 27.8% surge recorded in the previous month, which exerted pressure on the ARS/USD forex pair.
The American Petroleum Institute said that US crude oil inventories dipped by 3.821 million barrels in the week ending September 19, compared to a decline of 3.42 million barrels in the previous week, which sent the WTI crude oil prices higher this morning.
Mexico’s retail sales surged by 2.4% year-over-year in July, topping market estimates of 1.6%, which lent support to the MXN/USD forex pair.
South Korea’s Composite Consumer Sentiment Index slipped to 110.1 in September, from 111.4 in the previous month. However, the KRW/USD pair rose in forex trading this morning.
Germany’s 7-year Bund auction (1330 UAE Time), UK’s Treasury Gilt 2030 auction (1300 UAE Time), Italy’s 15-year BTP€i auction (1310 UAE Time), 2-year BTP Short Term auction (1310 UAE Time) and 5-year BTP€i auction (1310 UAE Time), Brazil’s FGV consumer confidence (1500 UAE Time), US MBA mortgage applications (1500 UAE Time), Mexico’s mid-month inflation rate (1600 UAE Time), US new home sales (1800 UAE Time), EIA crude oil stocks change (1830 UAE Time), EIA gasoline stocks change (1830 UAE Time), EIA Cushing crude oil stocks change (1830 UAE Time), EIA distillate stocks change (1830 UAE Time), EIA heating oil stocks change (1830 UAE Time), 17-week Bill auction (1930 UAE Time), 2-year FRN auction (1930 UAE Time) and 5-year Note auction (2100 UAE Time), Canada’s 10-year Bond auction (2000 UAE Time), Russia’s corporate profits (2000 UAE Time) and industrial production (2000 UAE Time), as well as Argentina’s economic activity (2300 UAE Time).
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