Shares of Micron Technology (NASDAQ: MU) rose 30.1% in March 2024, according to data from S&P Global Market Intelligence. Chiefly, the maker of computer memory chips reported stellar second-quarter results, inspiring a 14% jump in a single day.

Micron's report was a game-changer -- but it wasn't exactly a surprise.

Several analysts posted bullish reports and raised their second-quarter expectations before Micron posted its numbers. Micron's exposure to memory demand in the artificial intelligence (AI) market pointed to strong chip demand.

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Source Fool.com