Micron Just Guided for a Staggering $50 Billion in Fiscal Q4 Revenue. Here's What It Means for the AI Trade.
A blowout quarter and a $50 billion outlook make the case that AI memory demand isn't peaking. But what does it mean for the broader AI trade?
Overview
Shares of memory specialist Micron Technology (NASDAQ: MU) jumped about 16% in after-hours trading on Wednesday, climbing from about $1,049 at Wednesday's close to about $1,215, after the company reported a fiscal third quarter that topped even the most optimistic expectations on Wall Street.
The move snaps a fear-driven artificial intelligence (AI) sell-off that had weighed on chip stocks earlier in the week, and it puts Micron above a $1.2 trillion market capitalization.
Details
No wonder the stock is soaring. The results were incredible.
Source
Originally published at www.fool.com.
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