This article first appeared on GuruFocus.
Micron Technology (NASDAQ:MU) shares surged to a fresh all-time high ahead of its quarterly earnings report, as investors continued to price in stronger demand tied to artificial intelligence infrastructure.
The stock climbed about 4.5% to $461.7 on Wednesday, pushing the company’s market value to about $510 billion.
Analysts expect a sharp rebound in results, pointing to a surge in revenue and adjusted earnings compared with the prior period.
Forecasts suggest triple-digit growth, driven by rising demand from data centers and AI server deployments, which rely heavily on advanced memory chips.
Micron is already shipping its latest high-bandwidth memory equipment used in next-generation AI systems, and it is expanding its manufacturing capacity to meet the demand. The recent boom of the stock can be attributed to higher prices, increased AI gameplay, and restricted supply management.
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