Three major tech companies—HPE, Micron, and Palantir—beat earnings expectations, signaling strong sustained demand for AI infrastructure and software.

What happened: Hewlett Packard Enterprise reported 40% year-over-year revenue growth and adjusted earnings per share of $0.79 (beating estimates of $0.53); Micron saw revenue nearly triple to $24 billion（約3.8兆円） with earnings per share of $12.20 (vs. estimates of $9); Palantir grew total revenue 85% year over year to $1.63 billion（約2600億円） (beating $1.54 billion（約2500億円） estimates) and added 1,007 customers, up 31% over the year-ago quarter.

Why it matters: Companies supplying AI infrastructure—from networking and memory chips to software platforms—are benefiting from heavy investment in data centers and AI workloads. HPE's fast-growing orders and raised 2028 earnings target, combined with Micron's four straight years of data center storage market share gains and Palantir's stickier customer base spending more per account, suggest this demand is not a short-term spike but sustained growth.

What to watch: HPE trades at a forward price-to-earnings multiple of 14 with estimated 29% annualized earnings growth; Micron's forward multiple is now 17, nearly in line with Nvidia; Palantir commands a premium valuation of 89 times forward earnings, aligned with projected 51% annualized earnings growth. Each company's ability to sustain these growth rates will determine whether current valuations hold.