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#MicronSharesRise10%AfterHours
Micron Shares Surge 10% After-Hours
Micron Technology (MU) stock spiked 10% in extended trading following a robust earnings beat and optimistic forward guidance. The memory chip giant reported fiscal Q3 revenue of $6.81 billion, surpassing estimates, while projecting Q4 revenue above consensus. This rally is fueled by surging demand for high-bandwidth memory (HBM) used in AI servers, offsetting weakness in the consumer PC and smartphone segments. Management emphasized that its advanced HBM3E products are sold out for 2025, signaling tight supply. The positive report alleviates recent sector fears, reinforcing Micron's pivotal role in the AI hardware ecosystem. If the gains hold, shares are poised for a new record high at the open.
#MicronSharesRise10%AfterHours
Micron Shares Surge 10% After-Hours
Micron Technology (MU) stock spiked 10% in extended trading following a robust earnings beat and optimistic forward guidance. The memory chip giant reported fiscal Q3 revenue of $6.81 billion, surpassing estimates, while projecting Q4 revenue above consensus. This rally is fueled by surging demand for high-bandwidth memory (HBM) used in AI servers, offsetting weakness in the consumer PC and smartphone segments. Management emphasized that its advanced HBM3E products are sold out for 2025, signaling tight supply. The positive report alleviates recent sector fears, reinforcing Micron's pivotal role in the AI hardware ecosystem. If the gains hold, shares are poised for a new record high at the open.