Posted 3/21/2024, 1:56:44 PM
Micron Soars to Record High on Booming AI Chip Demand and Tight Supply Through 2024
- Micron Technology stock surged to a record high on strong revenue forecast and high demand for AI hardware
- Micron makes high-bandwidth memory (HBM) chips used in AI applications that are sold out through 2024
- Micron is a supplier of HBM chips to Nvidia; set to add nearly $16 billion to market value
- Micron signed new customers for HBM products yet to be announced
- Tight HBM chip supply and increasing demand is driving improvements in Micron's pricing and profit margins
