Micron (MU) Surges 13% After Reporting $41.46B Earnings
Published on Β· Source: cnbc.com
AI Summary
Summarized by AI from the source belowMicron Technology (MU) reported a fiscal third-quarter revenue of $41.46 billion, a significant increase from $9.3 billion the prior year, surpassing analyst expectations of $36 billion. The stock initially rose as much as 19% before pulling back, raising its market capitalization above Meta and Tesla. Micron forecasts approximately $50 billion in revenue for the current quarter. Additionally, the company signed 16 long-term agreements with various clients, expecting $22 billion in commitments, which could provide revenue stability amid fluctuating demand.
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About Micron Technology Inc. (MU)
Micron Technology is a leading maker of memory chips, spanning DRAM and NAND flash.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
Earlier MU news
- Micron (MU) Targets AI Deals to Stabilize Memory Market Cycles
- Micron (MU) Shares Surge 18% After Strong Earnings Report
- Micron (MU) and Qualcomm (QCOM) Show Major Premarket Moves
- Micron (MU) Earnings Surge Boosts S&P 500 Futures Ahead of Inflation Data
- Micron (MU) earnings ease AI fears, boost Asian stocks
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