Micron Technology Stock Surges on Record Earnings and Strong AI-Driven Demand
Micron Technology's shares hit record highs with significant gains of up to 7.8% following better-than-expected earnings and a strong revenue forecast. The company reported Q4 earnings per share of $4.78, surpassing estimates, and forecasted Q1 revenue of $18.7 billion, well above analyst expectations. This surge is driven by robust demand in the AI sector, marking one of the best revenue and net income performances in the U.S. semiconductor industry, comparable to Nvidia's landmark report in May 2023.