Reported 12 days ago
Micron Technology's stock jumped 14% after exceeding analysts' revenue expectations for Q1, projecting $8.5 billion to $8.9 billion due to favorable pricing and strong demand for memory chips in AI data centers. CEO Sanjay Mehrotra noted this as a pivotal moment for the memory and storage sector, marking Micron's best competitive positioning in history. The company's recent performance provides insight into the semiconductor industry's recovery as expectations for AI-related technologies continue to rise.
Source: YAHOO