Micron Technology (NASDAQ: MU) shares surged 7.82% in a robust performance during Sunday's trading session. The significant upward movement came on the heels of the company's impressive fiscal second-quarter earnings report and optimistic guidance for the upcoming quarter, showcasing the firm's strong position in the memory and storage market.
The semiconductor giant delivered a stellar performance in its latest earnings release, with notable achievements in its data center segment. Micron reported record revenue in data center DRAM (Dynamic Random Access Memory), while its High Bandwidth Memory (HBM) revenue exceeded $1 billion for the first time. The company attributed this success to strong product momentum and its leadership in low-power DRAM for data centers, highlighting its competitive edge in the rapidly growing AI and data center markets.
Adding to investor optimism, Micron provided a bullish outlook for its fiscal third quarter. The company forecasts revenue of approximately $8.8 billion, plus or minus $200 million, with a gross margin of 36.5%. Furthermore, Micron expects earnings per share to reach $1.57, plus or minus $0.10. This positive guidance, coupled with plans for further growth in DRAM and NAND bit shipments, has bolstered confidence in the company's near-term prospects, driving the stock's impressive gains.
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