Micron Just Eliminated Its Biggest Risk With This Brilliant Move, and Investors Are Loving it
Micron is signing customers to long-term contracts, a significant strategic shift.
Micron Just Eliminated Its Biggest Risk With This Brilliant Move, and Investors Are Loving it
Overview
Coming into Micron's (NASDAQ: MU) fiscal third-quarter earnings report, investors were expecting another round of smashing results, and the memory chip stock delivered.
Revenue jumped 346% year-over-year to $41.5 billion, ahead of estimates at $35.3 billion, and adjusted earnings per share surged from $1.91 to $25.11, topping the consensus at $20.28.
Details
However, what's more important than the third-quarter results is where the company is headed. A shortage in memory chips has sent prices soaring, driven by AI-related demand, sending memory stocks skyrocketing across the board.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
