Reported 12 days ago
Micron Technology's stock is surging after the company reported better-than-expected fourth quarter earnings, driven primarily by strong sales in high bandwidth memory (HBM) chips. Following this performance, analysts are adjusting their price targets upwards, with forecasts reflecting confidence in Micron's competitive positioning in the semiconductor market, especially amidst a broader trend towards AI technologies. The company projected significant revenue growth from HBM sales in the upcoming fiscal year, despite a slump in traditional PC and smartphone chip sales.
Source: YAHOO