No Result
View All Result
  • Home
  • Stock Watchlist
  • Stock Analyst News
  • Earnings News
  • Insider Trades
  • Dividend Stocks
Subscribe Now
  • Home
  • Market Sectors
    • Technology
    • Health
    • Finance
    • Consumer
    • Commercial Services
    • Electronic
    • Communications
    • Transportation
    • Utilities
    • Minerals
    • Other Sectors
    • Electric Vehicles
    • Pot Stock
    • 5G Stock
    • Crypto
  • Stock Buys
    • Strong Buys
    • Insider Buys
  • Insider Trades
  • Dividend Stocks
  • Event Calendars
    • Earnings and Dividend
    • IPO
  • Special Reports
No Result
View All Result
HOME MARKET SECTORS STOCK BUYS INSIDER TRADES DIVIDEND STOCKS
     BACK TO MENU Technology Health Finance Consumer Commercial Services Electronic Communications Transportation Utilities Minerals Other Sectors Electric Vehicles Pot Stock 5G Stock Crypto
techstockmovers.com
No Result
View All Result

Micron Cashes In on AI Chip Frenzy Despite Mixed Results

by Staff Editor
Jun 26, 2024
in Market News Technology 


Micron just dished out a prime example of how the AI boom is creating winners and losers in the chip sector. While the memory maker's fiscal Q3 beat topped revenue estimates, its stock still got clobbered after investors digested the finer print, dropping approximately 7% or $10 in after-hours trading.

On the surface, Micron served up mouth-watering numbers, including $6.81 billion in revenue easily clearing the $6.67 billion Wall Street target. Earnings per share topped forecasts at 62 cents adjusted versus 51 cents expected.

Who are Nvidia’s New Silent Partners? [Watch Now]

But despite those beat-and-raise optics, Micron shares plunged over 7% after hours as traders seemingly shrugged at its Q4 revenue outlook. The $7.6 billion midpoint forecast matched analyst projections, failing to satisfy the elevated expectations baked into Micron's scorching 2024 rally.

Make no mistake though - the real story here is Micron's emergence as a prime AI semiconductor superstar. Thanks to sizzling demand for its high-bandwidth memory (HBM) chips, CEO Sanjay Mehrotra revealed the entire 2024 supply is already sold out with most of 2025 also allocated!

Those prized HBM chips are a key ingredient powering the latest AI processors from red-hot leaders like Nvidia. So while stale smartphone and PC markets weigh on other segments, Micron's data center business skyrocketed 50% quarter-over-quarter on AI mania.

As Mehrotra bluntly stated, "We are gaining share in high-margin products like HBM and our data center SSD revenue hit a record high, demonstrating the strength of our AI product portfolio."

AI Stock Caught Trading Under Secret Name
This is just bizarre...Full Story >>

Micron is the ultimate "pick and shovel" play for the AI gold rush, winning big regardless of which AI platform ultimately dominates. With pricing power and backlogs galore, the chip darling expects its AI-oriented offerings to keep fetching higher premiums.

Of course, executing on those lucrative tailwinds is still priority number one. Micron's stumble likely reflected some fears that production hiccups could derail the AI gravy train before it truly leaves the station.

But for now, Micron is squarely centered in the AI chip frenzy's bullseye. As traders digest whether its outlook is conservative or merely realistic, one thing is clear - AI will create plenty more volatile roller coaster rides across the semiconductor universe.

Sponsor

Jeff Bezos Next Trillion Dollar Bet
While the world has been obsessed with AI and ChatGPT… Jeff Bezos has quietly gone all in on a technology that's going to prove to be FAR bigger. If you've never heard of "QaaS" technology you need to click here now.

Tags:

Related Posts

From Shrinkflation to Economic Collapse: Is a Financial Storm Brewing?

Oct 13, 2024

The Week Ahead: Earnings Season Kicks Off and Retail Sales in Focus

Oct 13, 2024
Dividend 

4 Stocks Up 30%+ in 5 Days: EV, Lithium, and Tech Leaders

Oct 09, 2024
UP Fintech Holding Limited stock TIGR TIGR price target Financial Services stock watchlist Financial Services stocks 

4 Soaring Stocks Up Over 46% in 5 Days

Oct 04, 2024
Dividend 

3 Dividend Stocks Up Over 30% in the Last Week

Oct 04, 2024

Massive "Backdoor" Pre-IPO Play in Musk's $100 Billion Starlink?

Oct 03, 2024
Next Post
Canadian regulator rejects Enbridge plan to contract oil pipeline space

Canadian regulator rejects Enbridge plan to contract oil pipeline space

Nvidia’s DLSS has come to Linux gaming (but not the Steam Deck obviously)

Nvidia’s DLSS has come to Linux gaming (but not the Steam Deck obviously)

No Result
View All Result

Screener data might be 15 minutes delayed from the real time.

  • Newsletters
  • Advertise with Us
  • About Us
  • Feedback/Contact Us
  • Email Notice, Data Use and DMCA
  • Privacy Policy
  • Terms of Use and Disclaimer
  • 17B List of Disclosures
FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. This site contains articles and videos are offered for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation or be relied upon as personalized investment advice. We are a financial publisher. We are not financial advisors and cannot give personalized advice. There is a risk of loss in all trading, and you may lose some or all of your original investment. Results presented are not typical. Never make any investment or trade with our first consulting with your investment advisor and after doing your own due diligence. This webpage and website is protected by copyright laws of the United states and international treaties.

©2021 Sandpiper Marketing Group
PO Box 407. Mt. Mourne, NC 28123-0407

  • Home
  • Market Sectors
    • Technology
    • Health
    • Finance
    • Consumer
    • Commercial Services
    • Electronic
    • Communications
    • Transportation
    • Utilities
    • Minerals
    • Other Sectors
    • Electric Vehicles
    • Pot Stock
    • 5G Stock
    • Crypto
  • Stock Buys
    • Strong Buys
    • Insider Buys
  • Insider Trades
  • Dividend Stocks
  • Event Calendars
    • Earnings and Dividend
    • IPO
  • Special Reports

©2021 Sandpiper Marketing Group

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In