Tech Jitters Ease on Micron's Blowout Earnings

Micron Technology crushed Wall Street expectations overnight, reporting Q3 revenue of $41.5 billion (a $6.2 billion beat) with cloud memory up 307% year-on-year and core data centre up 653%. The stock surged ~13% after hours, dragging Nasdaq futures up around 2% and effectively reversing the session's losses. Qualcomm added to the momentum with positive CEO commentary.In today's Morning Call, Mark Gardner covers:— Why Micron's result matters for the broader AI trade and whether the rally can continue from here— Oil hitting its lowest level since before the Iran war as 20 million barrels transit the Strait of Hormuz— The commodity rout across gold, silver, copper and crude — and where the buying opportunities might be— U.S. dollar strength and what's driving the move despite weakening consumer discretionary budgets— Australia's May employment data due today and what it means for the RBA rate path— Trim mean inflation coming in slightly higher than expected — rate hikes still on the agenda?— Healthcare sector green shoots: why names like CSL, Telix and Vive are starting to turn— JPMorgan and Goldman Sachs boosted dividends after passing Fed stress tests— a2 Milk's positive update and Tourism Holdings' fresh takeover approachASX 200 futures pointed ~20 points higher at the close. SPI up around 0.2% to 8,810.Listen to Bulls vs Bears every Friday for a deeper weekly dive — available at mpcmarkets.com.au/podcast