Micron Technology (NASDAQ: MU) shares surged 5.05% in pre-market trading on Monday, building on the momentum from Sunday's 7.82% gain. The continued rally comes in response to the company's impressive fiscal second-quarter results and optimistic third-quarter guidance, showcasing Micron's strong position in the booming AI and data center markets.
The semiconductor giant reported record-breaking performance in its data center DRAM segment, with High Bandwidth Memory (HBM) revenue exceeding $1 billion for the first time. This milestone highlights Micron's strengthening foothold in the rapidly expanding AI chip market. The company attributed its success to strong product momentum and leadership in low-power DRAM for data centers, positioning it well to capitalize on the increasing demand for AI-related memory solutions.
Looking ahead, Micron provided an upbeat forecast for its fiscal third quarter, projecting revenue of $8.8 billion (plus or minus $200 million) and earnings per share of $1.57 (plus or minus $0.10). The company also anticipates further growth in DRAM and NAND bit shipments, signaling continued strength in its core business segments. As Micron continues to innovate and expand its presence in high-growth markets, investors appear increasingly optimistic about the company's future prospects in the competitive semiconductor industry.
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