US stocks surged to close near the highs of the session on Monday after a US-China deal to temporarily slash reciprocal tariffs offered relief to markets worried about a trade war. Wall Street notched a banner day after the US and China put tariffs on pause for 90 days,

In fiscal 2025, the company expects its revenue mix with businesses headquartered in mainland China and Hong Kong to be approximately "mid-teens percent" of its worldwide revenue. Micron has a 14.9% net margin, so tariffs would’ve caused hundreds of millions in lost earnings.