Micron's AI-Driven Growth Boosts Stock

Micron Technology, a key player in memory chips, reported a significant surge in stock price following stronger-than-expected financial forecasts. The companys revenue for the fiscal third quarter, ending May 31st, was $6.81 billion, an 82% increase from the previous year. Profits of $0.62 per share also exceeded expectations. Looking ahead, Micron anticipates even better performance in the August quarter, with revenue potentially reaching $7.8 billion and profits up to $1.08 per share. The companys CEO attributes this success to a balanced supply and demand, effective execution, and their AI-driven products leading the industry.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.