Prediction: Micron Stock Will Soar Over the Next 3 Years. Here's 1 Reason Why.
Micron (NASDAQ: MU) hasn't received as much attention as other chip stocks like Nvidia in the artificial intelligence (AI) era, but the memory-chip maker is emerging as one of many winners from the emerging technology.Though the stock pulled back on its most recent earnings report, Micron's growth on a year-over-year basis was strong once again. Revenue in the quarter reached $8.05 billion, up 38% from the quarter a year ago, though it was down slightly on a sequential basis. Profits also jumped from a year ago, as adjusted earnings per share increased from $0.42 to $1.56. Micron's growth is primarily driven by demand for high-bandwidth memory, a key component in AI applications. That's one reason why Nvidia is now Micron's biggest customer, and CEO Jensen Huang recently credited Micron in his CES keynote speech.Continue reading
Micron (NASDAQ: MU) hasn't received as much attention as other chip stocks like Nvidia in the artificial intelligence (AI) era, but the memory-chip maker is emerging as one of many winners from the emerging technology.
Though the stock pulled back on its most recent earnings report, Micron's growth on a year-over-year basis was strong once again. Revenue in the quarter reached $8.05 billion, up 38% from the quarter a year ago, though it was down slightly on a sequential basis. Profits also jumped from a year ago, as adjusted earnings per share increased from $0.42 to $1.56.
Micron's growth is primarily driven by demand for high-bandwidth memory, a key component in AI applications. That's one reason why Nvidia is now Micron's biggest customer, and CEO Jensen Huang recently credited Micron in his CES keynote speech.
