Posted 3/21/2024, 8:34:02 PM
Micron Soars to Record High as AI Chip Demand Powers Earnings Beat
- Micron reported strong fiscal Q2 results, beating estimates and sending shares to a record high
- Micron's chips for AI/deep learning are sold out through 2024, with most 2025 supply also allocated
- Micron forecasts robust fiscal Q3 revenue and earnings above estimates
- Nvidia, a major Micron customer, will use Micron's chips in next-gen GPUs launching soon
- Demand for high-bandwidth memory chips from AI market has fueled Micron's growth prospects
