Micron Technology Benefits from AI Demand Surge

about 1 month ago

"Let's go right to Micron Technology, guys. Uh at its highs, up 17% today, finishing with a gain of just over 10%. A top gainer in the S&P 500 and NASDAQ 100. As we know, we broke it down last night. The company gave an upbeat forecast for the current quarter signaling uh signaling surging demand and supply shortages are allowing the company to charge more for products. We saw that on topline in terms of growth. We certainly saw that in margin. So appetite the voracious appetite for AI computing components definitely uh pushing Micron to the upside."

The commentary highlights Micron Technology's impressive performance, noting a 17% intraday high and a 10% finish, driven by an upbeat forecast and surging AI component demand. The speaker emphasizes strong top-line growth and margin expansion, attributing these positive trends to supply shortages allowing Micron to charge a premium.

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