Micron Technology, Inc. (NASDAQ:MU) shares experienced a sharp surge as the stock’s momentum score jumped from 24.18 to 50.9 on a week-over-week basis.
AI Memory Shortages Drive Revenue Surge
Micron reported second-quarter revenue of $23.86 billion, surpassing analyst estimates of $19.94 billion, and adjusted earnings of $12.20 per share, versus the projected $9.21.
CEO Sanjay Mehrotra said, “We are only able to supply, for our key customers in the midterm, about 50% to two-thirds of their requirements.”
Mehrotra emphasized that memory has become a “strategic asset” in the AI era, and supply-demand conditions for DRAM and NAND are expected to remain tight beyond 2026.
The company is expanding its global manufacturing footprint to support growing demand.
The Benzinga Edge Stock Rankings show that the company’s medium- and long-term trends have turned positive, while the short-term trend remains negative, according to the latest data.
Full story available on Benzinga.com
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