November 12th, 2026 | 05:34 CET
Micron Technology, Power Metallic Mines and BYD – Copper stocks with tailwinds from AI and electromobility
Created and Published on Behalf of Power Metallic Mines
Artificial intelligence and electromobility are simultaneously driving demand for chips and metals. Data centres need memory chips and plenty of copper for power and wiring, while electric vehicles need batteries and copper as well. In early November, Chinese memory manufacturer CXMT reported progress on a new DRAM architecture. Shortly before that, BYD had reported more than 300,000 all-electric vehicles in a single month for the first time in October. If the trend continues, memory chips, copper and electric vehicles will benefit from the same demand. We therefore take a closer look at Micron Technology, Power Metallic Mines and BYD.
time to read: 4 minutes | Author: Armin Schulz
ISIN: Power Metallic Mines Inc | CA73929R1055 , MICRON TECHN. INC. | US5951121038 , BYD CO. LTD H | CNE100000296
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Author
Armin Schulz
Born in Mönchengladbach, he studied business administration in the Netherlands. In the course of his studies he came into contact with the stock exchange for the first time. He has more than 25 years of experience in stock market business.
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Micron Technology: With record figures
On September 30, Micron Technology presented its figures for the fourth financial quarter. Revenue rose to USD 54.23 billion, compared with just USD 11.32 billion in the prior-year quarter. The Core Data Center segment alone generated USD 18.00 billion, up from USD 1.58 billion a year earlier. Revenue for the full 2026 financial year totalled USD 133.19 billion, up from USD 37.38 billion in the previous year. The group is projecting revenue of USD 61.5 billion for the first quarter of the 2027 financial year. AI's hunger for memory plays into Micron's hands.
Micron announced strategic financing on October 20. The deal is intended to help Indium Corporation expand its refining and manufacturing in New York State. There, critical minerals are processed into high-purity materials for advanced memory chips. A long-term supply agreement underpins the arrangement. The aim is to reduce dependence on concentrated refining capacity. According to the announcement, this is also a national security priority. The agreement forms part of a framework worth up to USD 3 billion aimed at strengthening the domestic supply chain. This should help bolster supply chain resilience.
On October 8, the board of directors increased the buyback authorisation to USD 35.16 billion, with buybacks possible from December 9. The next figures are also due in December. A dispute in Taiwan, however, is holding things back. According to Bloomberg, Micron halted construction of a new factory in Taoyuan in early November because the trade union is demanding profit-sharing. The company has not confirmed the construction halt and said operations are continuing as normal. According to the annual report, a large share of DRAM production this year comes from factories in Taiwan.
Power Metallic Mines: High-grade copper for electrification
On September 22, Power Metallic Mines reported on drill hole PML-26-125 in the Lion zone. A 5.70 m interval returned 14.00% copper equivalent, including 11.42% copper. A 2.15 m subinterval returned 24.62% copper equivalent. By comparison, the deepest hole previously to intersect Lion returned 7.95% over 1.95 m. The new hole extends around 25% deeper than the deepest hole in the resource estimate. Management believes it may be possible to increase the resource by up to 50% as a result. This would further enhance the project's value. Exploration grades remain high.
On October 5, the preliminary economic assessment (PEA) for the Nisk project began, focusing on the Lion deposit and funded from existing cash. BBA is the lead engineering consultant and is expected to help move the project forward. The basis is the resource estimate dated September 8, with 4,145,000 tonnes indicated at 3.86% copper equivalent and 601,000 tonnes inferred at 4.01%. Over 85% is indicated, and 59% of the tonnage lies within the open-pit area. Preliminary metallurgical tests by SGS showed copper recoveries above 98% across all samples tested, with the concentrate containing over 25% copper. This establishes the foundation.
Several milestones are coming up in the weeks ahead. Before year-end, the company expects further results from the test programme at SGS Canada, including a test using a blend of ores from Lion and Nisk to determine whether nickel recovery can be improved. The PEA is due to be completed in the first half of 2027. The company also plans to list on Nasdaq. Deep drilling at Lion continues. If mineralisation can be confirmed at greater depth, the resource could grow. Infrastructure is good, with a motorway and a substation in the immediate vicinity. The conditions are right.
BYD: Electric vehicles on course for records, overseas markets as a growth driver
On November 1, BYD reported 490,168 vehicles sold in October, 11% more than in the same month a year earlier and the highest monthly figure of 2026. For the first time, sales of all-electric vehicles exceeded 300,000 in a single month, with the exact figure at 305,743 and therefore 37% higher. Plug-in hybrids (PHEVs), by contrast, fell by 17% to 177,382. The manufacturer delivered 170,194 vehicles overseas, up 102.8% from a year ago. Sales there are soaring. Overseas markets are driving growth.
On October 29, BYD presented its third-quarter figures. Revenue stood at RMB 221.49 billion, up 13.59%. Net profit attributable to shareholders climbed by 28.08% to RMB 10.02 billion. Over nine months, revenue remained virtually unchanged at RMB 566.30 billion, while profit of RMB 22.34 billion was 4.24% below the previous year. Exports reached 550,704 vehicles in the quarter, compared with 232,806 in the previous year. Exports are plugging the gaps in the domestic market. The quarter was solid.
Growth abroad comes at a price. Inventories have risen since December from RMB 138.42 billion to RMB 221.58 billion, an increase of 60.08%, mainly due to overseas business. There are also headwinds from Europe. According to Reuters, an agreement between China and the EU to limit hybrid imports is under discussion, and Brussels is reportedly planning a cap of 350,000 Chinese cars. Vehicles manufactured in Europe would be exempt. If the plant in Hungary starts operating successfully, BYD could benefit. Hybrids could be in the firing line.
Conclusion
Artificial intelligence and electric mobility are driving demand for chips and copper, and the three companies are linked to this in very different ways. Micron Technology benefits from AI's hunger for memory and, from December, can buy back shares worth up to USD 35.16 billion, but must resolve the dispute in Taiwan. Power Metallic Mines delivers high copper grades and, with the PEA, has initiated the next step; the study is due to be completed in the first half of 2027. If confirmation at depth is achieved, the resource could grow further. BYD is growing strongly abroad, but inventory build-up and Europe remain tests. All three have delivered operationally.
Conflict of interest
Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") currently hold or hold shares or other financial instruments of the aforementioned companies and speculate on their price developments. In this respect, they intend to sell or acquire shares or other financial instruments of the companies (hereinafter each referred to as a "Transaction"). Transactions may thereby influence the respective price of the shares or other financial instruments of the Company.
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