Micron Stock Surges 16% After Revenue More Than Quadruples
Micron Technology posted blockbuster earnings, sending shares soaring 16% in premarket trading as revenue quadrupled year over year.
Micron Technology shares rocketed more than 16% in premarket trading Wednesday after the chipmaker delivered blowout quarterly earnings that far exceeded market expectations, signaling robust demand for memory semiconductors driving the company's dramatic turnaround.
The Santa Clara-based firm reported full-year revenue of $41.46 billion, a staggering leap from just $9.3 billion recorded in the same period a year earlier — representing more than a fourfold increase that underscores how sharply the memory chip market has rebounded from a prolonged downturn.
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The explosive revenue growth reflects broader tailwinds sweeping the semiconductor industry, particularly surging demand for high-bandwidth memory chips used in artificial intelligence infrastructure. Micron has positioned itself as a key supplier to data center operators racing to build out AI computing capacity, a strategic bet that appears to be paying off at scale.
The magnitude of the premarket move signals that investors were caught off guard by the strength of the results, with a double-digit single-session gain of this size rare even in the volatile chip sector. Analysts are likely to revisit price targets and earnings models in the wake of numbers that dramatically reset expectations for Micron's earning power going forward.
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