(Yicai) June 25 -- Shares in China's leading mainland-listed memory chip makers surged to all-time highs today after US industry leader Micron Technology released better-than-expected quarterly results and issued a strong outlook, signaling that the sector’s supply shortage is likely to persist.

Gigadevice Semiconductor [SHA: 603986] soared 9.9 percent to end the day at CNY775.21 (USD114), Biwin Storage Technology [SHA: 688525] surged 15.1 percent to finish at CNY480.30, Longsys Electronics [SHE: 301308] jumped 9.2 percent to CNY677.30, Techwinsemi Technology [SHE: 001309] rocketed 10 percent to CNY891, Shannon Semiconductor Technology [SHE: 300475] logged a jump of 5.7 percent to CNY306.25 while Puya Semiconductor [SHA: 688766] ended up 1.9 percent at CNY754.15, after rising as much as 10 percent earlier in the session.

Micron reported a 15-fold leap in net profit for the three months ended May 28 from a year earlier to USD28.2 billion, while revenue surged 346 percent to USD41.5 billion, according to its third-quarter earnings report for the fiscal year 2026 which was released after the US stock market closed yesterday. The Boise-based memory chip manufacturer also expanded its gross profit margin by 47 percentage points to 85 percent. All key metrics came in well above Wall Street expectations.

Micron also forecast fourth-quarter revenue of between USD49 billion and USD51 billion, with its gross profit margin expected to remain around 86 percent.

The short supply of memory chips driven by the artificial intelligence boom is expected to continue into next year and may not begin to ease until 2028, Micron executives said at the earnings call.

As of 5:36 a.m. Eastern Time, Micron’s share price [NASDAQ: MU] had surged 16.4 percent in pre-market trading to USD1,219.29, surpassing the previous intraday high of USD1,213.56 set on June 22.

The surge in prices driven by the tight supply of memory chips has also boosted the performance of Chinese memory companies. For example, Beijing-based Gigadevice’s net profit gained more than six-fold in the first quarter from a year earlier to CNY1.5 billion (USD220.4 million), while revenue soared 119 percent to CNY4.2 billion (USD617.4 million).

Editors: Dou Shicong, Kim Taylor