Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTJohn Ballard, The Motley FoolSun, June 21, 2026 at 6:05 PM GMT+2 5 min readSpending on artificial intelligence (AI) is not slowing down. Companies that are addressing the growing demand for computing hardware and software are reporting strong revenue and earnings.Three companies that recently delivered strong earnings results -- Hewlett Packard Enterprise (NYSE: HPE), Micron Technology (NASDAQ: MU), and Palantir Technologies (NASDAQ: PLTR) -- all exceeded Wall Street expectations. Let's take a look at what is driving their growth and whether the momentum makes them solid buys for a long-term investor.Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »Image source: Getty Images.Hewlett Packard Enterprise (HPE)Investment is pouring into AI-optimized data centers to support mission-critical workloads across training and inferencing. These data centers need fast networking equipment to connect and transmit data between thousands of chips. This is opening up a new growth avenue for HPE, one of the leaders in enterprise services and technology infrastructure.Its latest quarter showed accelerating demand. Revenue grew 40% year over year, up from 18% in the previous quarter. Strong revenue drove a massive earnings beat, with adjusted earnings per share of $0.79 -- above analyst estimates of $0.53. After orders more than doubled, management now expects to hit its 2028 earnings target two years early.HPE's recent acquisition of Juniper Networks strengthens its competitive position. Juniper's advanced networking and AI-driven automation capabilities will complement HPE's servers and storage business, creating a full-stack AI infrastructure offering. Management indicated that cross-selling products is already leading to larger deals.Given these trends and management's raised outlook for the year, HPE stock may have room to run. It trades at a forward price-to-earnings multiple of 14, which looks cheap relative to analysts' estimates calling for earnings to grow at an annualized rate of 29% over the next several years.Micron TechnologyMicron has been one of the hottest stocks in the market this year, driven by a severe memory bottleneck for AI workloads. Memory demand has historically been highly cyclical, but investors are betting that AI is creating a more sustainable long-term growth trajectory.The chipmaker's February-ended quarter showed revenue nearly tripling year over year to $24 billion. Demand was strong across all memory products, including DRAM, NAND, and high-bandwidth memory (HBM). The sharp increase in selling prices for these products boosted the company's earnings per share to $12.20, far exceeding analyst estimates of $9.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info