Key Takeaways
- Australian Prime Minister Anthony Albanese is scheduled to hold a formal meeting with US President Donald Trump in Washington, D.C., on October 20th, marking their first in-person bilateral discussion since Trump's return to the presidency.
- Micron Technology (MU) announced a 46% jump in revenue and significantly raised its fiscal fourth-quarter guidance, with anticipated revenue reaching $11.2 billion and adjusted earnings per share (EPS) projected at $2.85, comfortably surpassing analysts' expectations.
- The memory chip giant's robust outlook is driven by improved pricing in dynamic random-access memory (DRAM) and surging demand for its High-Bandwidth Memory (HBM) products, essential components for advanced Artificial Intelligence (AI) applications.
Australian Prime Minister Anthony Albanese has confirmed plans to meet with US President Donald Trump in Washington on October 20th. This highly anticipated bilateral meeting will be their first formal face-to-face interaction since President Trump's return to office, following several previous attempts and phone discussions. The confirmation came during a doorstop on the sidelines of the United Nations General Assembly meeting in New York, with the White House also affirming the schedule.
The leaders are expected to discuss a range of critical issues, including the AUKUS security pact, broader defense cooperation, trade relations, and the supply of vital critical minerals. The meeting aims to strengthen the strategic partnership between the two nations, which has seen ongoing discussions on economic cooperation and shared security interests.
In corporate news, semiconductor powerhouse Micron Technology (MU) reported a substantial 46% increase in revenue and delivered an upbeat fiscal fourth-quarter guidance that exceeded Wall Street's estimates. The company now projects revenue for the quarter to be $11.2 billion, plus or minus $100 million, a notable increase from its prior forecast of $10.7 billion.
Micron also raised its adjusted gross margin guidance to 44.5%, plus or minus 0.5%, up from a previous estimate of 42%. Adjusted earnings per share are now expected to be $2.85, plus or minus 7 cents, significantly higher than the earlier forecast of $2.50. These upward revisions reflect improved pricing dynamics in the DRAM market and strong operational execution.
The company's strong performance is largely fueled by robust demand for its High-Bandwidth Memory (HBM) products, which are crucial for powering Artificial Intelligence (AI) chips. Micron's HBM revenue saw a nearly 50% sequential increase, underscoring its pivotal role in the burgeoning AI sector. Following the positive guidance, shares of Micron Technology (MU) rose by more than 6%, extending a period of strong stock performance that saw the company's stock jump 46% in the first half of 2025. Analysts, such as Mizuho's Jordan Klein, viewed the guidance hike as a strong rebuttal to bearish market sentiment.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.