Reported 12 days ago
Micron Technology's stock jumped 14% after the company projected Q1 revenues between $8.5 billion and $8.9 billion, exceeding analyst expectations of $8.3 billion. The positive outlook was attributed to a favorable pricing environment and increased demand for memory chips used in AI data centers. CEO Sanjay Mehrotra expressed optimism about the company’s competitive position entering fiscal year 2025, indicating a resurgence in the memory chip market driven by investments from major tech firms.
Source: YAHOO