Micron delivers blowout earnings, surges 16% and deals crypto bulls a blow Micron Technology surged after blockbuster earnings and strong guidance, lifting AI memory stocks. – Micron (MU) beat Wall Street expectations and forecast stronger than expected Q4 revenue, sending AI…
mory stocks including SanDisk (SNDK) and SK Hynix higher. – Third-quarter revenue came in at $41.5 billion versus estimates of $35.7 billion, while earnings per share (EPS) reached $25.11 compared with expectations of $20.49. – CEO Sanjay Mehrotra said there is “no line of sight” to AI memory supply catching up with demand, with shortages expected to continue beyond 2027. Computer memory chipmaker Micron Technology (MU) delivered blowout Q3 earnings on Wednesday, lifting the entire AI memory sector, AI-related stocks and even giving crypto a slight boost
Bitcoin Micron shares surged 16% in premarket trading on Thursday after the memory chipmaker’s third quarter guidance exceeded Wall Street expectations. Third-quarter revenue came in at $41.5 billion versus estimates of $35.7 billion, while earnings per share (EPS) reached $25.11 compared with expectations of $20.49. Memory chips have become the backbone of AI infrastructure, particularly high-bandwidth memory (HBM), which is essential for training and running large AI models.
CEO Sanjay Mehrotra told analysts there was “no line of sight” to when supply would catch up with demand, with the shortage expected to persist well beyond 2027. The company also issued strong fourth quarter guidance, forecasting revenue of approximately $50 billion, well ahead of Wall Street expectations of $43.2 billion. The AI boom has weighed heavily on the crypto market this year, with bitcoin now more than 50% below its October all-time high, trading at the $60,000 level.