Micron’s 65% Surge Puts Lofty AI Expectations Front and Center
- Shares of the chipmaker rallied to hit a record high in June
- Wall Street expects quarterly revenue to jump 80% on the year
The Micron Technology headquarters in Boise, Idaho, US.
Photographer: Kyle Green/BloombergThis article is for subscribers only.
Micron Technology Inc.’s more than $62 billion artificial intelligence-driven rally is about to face a test of whether it has jumped too far, too fast.
Shares of the chipmaker are up roughly 65% this year. Much of that advance has come since Micron’s last quarterly report, with the stock hitting a record high this month. Investors will seek proof of earnings growth and solid future demand in the next release due after Wednesday’s market close. The stock was up about 0.5% Wednesday afternoon in New York.