Micron Technology shares rallied sharply in extended trading after the memory chip giant delivered a revenue outlook that surpassed Wall Street expectations.
The US-based manufacturer cited robust demand for memory chips tailored to artificial intelligence applications as the primary driver behind its optimistic forecast.
The stock gained approximately 10% in after-hours trading, reflecting investor confidence in the company's ability to capitalize on the ongoing AI infrastructure build-out.
The stock gained approximately 10% in after-hours trading, reflecting investor confidence in the company's ability to capitalize on the ongoing AI infrastructure build-out.
This repricing underscores the market's continued appetite for semiconductor firms with direct exposure to high-bandwidth memory (HBM) and data center growth.
Micron's results highlight the sustained momentum in the AI supply chain.
The company previously reported that revenue more than quadrupled in its fiscal third quarter, driven by surging demand for memory chips tied to the artificial intelligence boom.