Micron's AI-Driven Growth Boosts Stock

Micron Technologys stock surged following robust financial forecasts, driven by escalating demand for memory chips in AI technologies. The companys Q3 revenue skyrocketed 82% to $6.81 billion, surpassing expectations. Micron projects even better results for the August quarter, with revenue estimated between $7.4-$7.8 billion and profits between $0.98-$1.08 per share. CEO Sanjay Mehrotra attributes this success to a balanced supply-demand dynamic and Microns AI-driven products, setting the stage for significant revenue growth and profitability in 2025.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.