Issue No. 25  •  Thursday June 25, 2026

THE TRADING ADDICT

NEWSLETTER

by Maria Helmick

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» Story No. 1 of 2 · Earnings Watch

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Micron Has the Market's Attention Again

Record Quarter. Strong Guidance. AI Demand Still Going Strong.

Micron Technology just delivered the kind of earnings report that makes investors stop what they are doing and pay attention.

The company reported fiscal third-quarter revenue of $41.46 billion, up from $23.86 billion last quarter and $9.30 billion a year ago. Earnings surged to $24.67 per share, while operating cash flow climbed to $25.39 billion.

Those are not normal growth numbers. They reflect a company benefiting from one of the strongest demand environments in technology.

The Real Story Was the Guidance

The biggest part of the story may not even be the quarter Micron just reported. It may be what the company said about the next one.

Micron guided fourth-quarter revenue to approximately $50 billion, with gross margins around 86% and earnings expected to reach roughly $31 per share. Strong earnings are nice, but Wall Street is always looking ahead. Management is not telling investors the boom is slowing. Management is telling investors the next quarter could be even stronger.

Margins Tell the Story

One of the most impressive numbers in the report was gross margin. A year ago, Micron's gross margin was 37.7%. Last quarter it was 74.4%. This quarter it reached 84.6%.

That kind of expansion typically happens when demand is outpacing supply and customers are willing to pay up for critical products. For Micron, that product is memory.

AI Demand Is Showing Up Everywhere

The strength was not limited to one business line either. Cloud memory revenue climbed to $13.77 billion, core data center revenue reached $11.52 billion, mobile and client revenue grew to $11.52 billion, and automotive and embedded revenue increased to $4.63 billion.

Broad-based growth like that suggests demand remains healthy across multiple end markets, with AI infrastructure continuing to be a major driver.

Why Investors Are Paying Attention

Micron may not always get the headlines, but memory sits at the center of modern computing. As companies continue spending billions on AI infrastructure, memory demand remains a critical piece of the puzzle.

This report suggests that spending has not disappeared. In fact, Micron's guidance suggests it may still be accelerating.

While one earnings report does not guarantee every AI stock moves higher, it does provide another sign that the AI buildout remains alive and well. Investors looking for clues about the health of the AI trade just received a very strong one.

Maria's Bottom Line For me, the most important part of this report is not just what Micron already did. It is what management is telling us about what comes next. If these forecasts are right, AI spending is still building, not slowing. That does not mean every AI stock goes higher tomorrow, but it does give the trade another reason to breathe. Micron's numbers show companies are still spending real money on AI infrastructure, and that spending is showing up in results. I am not interested in chasing stocks after a big move. I would rather wait for better entries and better premium. Reports like this tell me the AI story still has fuel in the tank, and if volatility creates opportunities, I will be looking at other quality AI names where I can sell puts and collect premium while giving myself room to be right.

Educational only. Not investment advice.

» Story No. 2 of 2 · Maria's Market Watch

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Wall Street Raised the Bar Again

Wall Street is getting more bullish on the S&P 500, but this is not because stocks suddenly became cheap. They didn't. The reason targets are moving higher is earnings.

JPMorgan just raised its year-end S&P 500 target to 7,800, citing strong earnings momentum from the AI investment boom and a still-resilient economy. Barclays and Stifel also moved their targets to 7,800, while Goldman Sachs is now at 8,000 and Citigroup is at 8,100. That tells us the big firms are not walking away from this market. They are leaning into the earnings story.

The important part is this: the market is not being held up by hope alone. Earnings estimates are rising. Goldman raised its 2026 S&P 500 earnings forecast to $340 and its 2027 forecast to $385. JPMorgan pointed to strong earnings momentum, and Citigroup raised its target because of earnings strength and the AI supercycle.

That is what makes this story interesting. For months, people have been saying the market is expensive, too concentrated, too AI-heavy, and too dependent on the Fed. Some of that is true. But strong earnings can keep an expensive market moving higher longer than people expect. When companies keep making more money, investors are willing to pay up.

The risk is that Wall Street is also raising the bar. Once targets go higher and earnings expectations move up, companies have less room to disappoint. A decent quarter may not be enough anymore. If investors are now pricing in stronger earnings, AI growth, and a steady economy, then the market needs those things to keep showing up.

So yes, this is a bullish story. But it is not a blind bullish story. The S&P can keep climbing if earnings keep backing it up. The danger is that expectations are no longer low. Wall Street just made the test harder.

Maria's Bottom Line Wall Street is raising targets because earnings are stronger, not because stocks are cheap. I like that earnings are moving higher, but I'm not chasing the market just because the banks got more bullish. If this momentum is real, I want to see pullbacks get bought. That is where I would look for strong names with real earnings, good liquidity, and enough premium to sell puts or put spreads with room to be right. The market may still have more upside, but now the companies have to prove it.

Educational only. Not investment advice.

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Risk Warning At the time of this writing, we plan on entering most of these trades, but they are part of a much greater and larger trading program and should be considered for educational and entertainment purposes only. Not financial advice of any kind. Trading involves substantial risk and is not suitable for every investor. You can lose some or all of your money. Nothing here is financial advice or a recommendation to buy, sell, or copy any trade. Do not copy trades blindly. Do your own due diligence, understand the risk, and make decisions based on your own account, risk tolerance, and financial situation.

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» Daily Trading Update · Day 172 · Tap for live dashboard

Strong close to Week 36 (Thu Jun 18 — Juneteenth holiday closed Friday). Combined 0dte +$18,429 on 252 trades. Grand Total $1,299,757 — back toward $1.3M.

» Quick Short · Watch on YouTube Micron Home Run + Wall Street Raising the Bar Maria on MU earnings and S&P targets ►  WATCH ON YOUTUBE