NEW YORK / LONDON (IT BOLTWISE) – Micron Technology exceeded Wall Street’s expectations with its latest quarterly figures, thereby positively influencing market sentiment. The company’s revenue rose 57% year over year, driven by strong demand for AI chips. At the same time, the Bitcoin price remains stable above $87,000, highlighting the positive correlation between technology stocks and cryptocurrencies.
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With its impressive quarterly figures, Micron Technology exceeded analysts’ expectations and thus had a positive impact on market sentiment. The company, a leading provider of memory chips used in AI infrastructure and data centers, reported revenue of $13.6 billion in the first quarter of 2026. This represents an increase of 57% compared to the previous year. Gross margins rose to 56%, compared to 38% a year ago, while operating income rose to $6.1 billion.
Demand for AI-driven storage solutions was a prominent theme in Micron’s recent report. In particular, the cloud storage division saw revenue double year-on-year, while mobile and client revenue increased 63%. According to a company presentation, Micron is virtually sold out by 2026, underscoring the strong demand for its AI storage products.
Micron’s strong results provide some relief amid ongoing uncertainties in the AI sector, affecting companies such as Oracle, Broadcom and CoreWeave. Shares of Micron rose about 12% to about $250 in premarket trading. This development shows the growing overlap between AI and cryptocurrency-related stocks, fueled by the AI narrative.
Bitcoin has stabilized after its wild swings and remains above $87,000. This stability highlights the positive correlation between tech stocks and cryptocurrencies that has existed since late 2022. Recent developments at Micron and Bitcoin’s stability may indicate that the market is ready to meet the challenges of the AI boom while reaping the benefits of cryptocurrencies.
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