Shares of Micron Technology (NASDAQ: MU) rallied 20.9% on the week through Thursday trading, according to data from S&P Global Market Intelligence.

Micron reported earnings on Wednesday, blowing away analyst estimates while also giving strong guidance. The move comes after the stock had been down nearly 50% from its June highs amid widespread concerns over memory demand. Therefore, the strong beat and guide caused a near-15% surge on Thursday alone.

In the quarter, Micron saw revenue surge to $7.8 billion, up 93% over the prior-year quarter, with adjusted (non-GAAP) earnings per share of $1.18, up from an adjusted loss per share of ($1.07) in the year-ago quarter.

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Source Fool.com