MEXC Reports 142% Volume Surge for MU Futures Following Record Micron Earnings Beat
The memory chipmaker posted a $28.2 billion quarterly profit and said high-bandwidth memory demand is helping drive record results.
- On Thursday, memory chipmaker Micron reported a 346% surge in quarterly revenue, sending its stock soaring almost 16% in after-hours trading. The company posted approximately $41.4 billion in revenue, significantly exceeding market expectations.
- Micron's growth relies on specialized high-bandwidth memory chips essential for AI processors to move data at blistering speeds. Its HBM4 chips power major AI systems like ChatGPT, driving record-high profits for vendors across the AI supercycle.
- With a $1.3 trillion market cap, Micron is one of the three largest global DRAM manufacturers. The company reported a profit of $28.2 billion for the quarter, almost 15 times higher than the same quarter last year.
- Micron's stellar results helped stabilize markets after a bruising selloff in tech stocks earlier this week. Wedbush analyst Dan Ives wrote the memory trade is 'well-intact and still in the early stages of playing out.'
- Founded in a Boise, Idaho dental office in 1978, Micron has transformed into a critical player in the AI race. Analysts at William Blair expect the company to remain essential in this sector for years to come.
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PR Newswire
MEXC Reports 142% Volume Surge for MU Futures Following Record Micron Earnings Beat
/PRNewswire/ -- MEXC, a pioneer in 0-fee digital asset trading, releases its observations on equity-related futures trading activity around Micron's (MU)...
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