Micron Technology Earnings Bolster Bullish Outlook

about 1 month ago

Dan Curtis

"Exactly. So yesterday it was a lot of doubt around the AI trade and Micron came in after the bell and just gave uh gave the bulls a reason to be bullish. So the shares of Micron ticker MU are up over 11% in pre-market right now. It's the largest US maker of computer memory chips and it gave a really upbeat forecast. The guidance is that current quarter revenue will be 18 or 19 billion over 25% higher than Wall Street estimates. Earnings estimates were even stronger over 80% higher than what analysts were expecting. All of this coming off of heavy spending for memory from the AI industry and that's spilling over into other places. It's given these memory makers a real strong pricing power able to charge what they want for these memory chips."

The discussion highlights Micron Technology's strong earnings update, with pre-market gains and impressive revenue and earnings forecasts buoyed by AI-driven memory demand. The upbeat forecast and substantial margin expansion provide a bullish signal for MU, positioning it as a key play in the tech sector.

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