Company Performance - Micron's stock has increased by 170% since April, with a 40% gain since the end of August, reflecting strong market performance [1][3] - The company reported a 46% year-over-year revenue increase and a nearly 22% increase from the previous quarter, exceeding expectations [4][5] - Micron's gross margin was just under 46%, up over 900 basis points year-over-year, and the operating margin increased by 1,250 basis points [4][5] Future Outlook - Micron provided guidance for the current quarter, expecting revenue growth of 40% to 47% and gross margins between 50.5% and 52.5% [7] - The company anticipates earnings per share of $3.65 to $3.85, significantly higher than the analyst expectation of $3.10 [7] Market Dynamics - The demand for Micron's products is driven by the AI data center boom, with high bandwidth memory (HBM) being a critical component for server operations [2][9] - Micron's revenue from data center products reached $10 billion in fiscal 2025, a five-fold increase from the previous year [12] Technological Advancements - Micron is leveraging AI throughout its production process, enhancing efficiency and speeding up product delivery to meet market demands [13][15] - The company has improved its manufacturing process for DRAM products, achieving production efficiency 50% faster than previous generations [14] Broader Market Trends - Micron is seeing increased demand in various sectors, including PCs and smartphones, with expectations for mid-single-digit growth in PC shipments due to the phase-out of Windows 10 [17] - The smartphone market is also evolving, with a growing mix of AI-ready devices driving DRAM content growth, as one-third of flagship smartphones shipped in Q2 contained 12 GB or more of DRAM [18][19]

We are back here on Market on Close. I'm Sam Vis here on the floor of the New York Stock Exchange alongside Marley Kaden in our Chicago headquarters. There's just a few minutes left in today's session.And let's welcome in Kevin Green, senior markets correspondent to help close out today's session. All right, Kevin, what levels are you watching on the S&P 500. What have we been watching today.Because we did certainly hit all-time highs as we got started this morning, but certainly losing altitude throughout ...