Micron Earnings Blast Past Expectations as AI Memory Demand Fuels Growth

Micron reported Q2 earnings that "blasted past" all analyst expectations, with revenue of $5.82B and adjusted EPS of $0.42 beating estimates.

Demand for high bandwidth memory, used in AI applications, is surging and positively impacting Micron's overall outlook.

Following a downturn, Micron's facilities are being better utilized, creating a "margin expansion story."

Pricing of Micron's memory products is expected to increase through 2024-2025 as demand from smartphones, PCs, etc. drives growth.

As AI server demand grows, Micron is seen as a major beneficiary from the boost in AI spending.