Micron Technology Inc. reports record quarterly earnings of $1.91 per share, surpassing the expected $1.60, as revenue soars 37% year-over-year to $9.3 billion. This spike is largely due to a nearly 50% increase in high-bandwidth memory chip sales. CEO Sanjay Mehrotra emphasizes ongoing investment to meet surging AI memory demands. Despite outperforming, Micron's stock remained stable after hours, illustrating investor caution amid potential growth challenges stated by analyst Holger Mueller.
Micron Technology Inc. reports record quarterly earnings of $1.91 per share, surpassing the expected $1.60, as revenue soars 37% year-over-year to $9.3 billion. This spike is largely due to a nearly 50% increase in high-bandwidth memory chip sales. CEO Sanjay Mehrotra emphasizes ongoing investment to meet surging AI memory demands. Despite outperforming, Micron's stock remained stable after hours, illustrating investor caution amid potential growth challenges stated by analyst Holger Mueller.