Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Micron Is Sold Out of High-Bandwidth Memory Chips -- What Does That Mean for Nvidia's AI Dominance?


The most recent semiconductor industry downturn, led by the steep falloff in consumer electronics (PCs and smartphones) spending after the pandemic, has been absolutely brutal on U.S. memory chipmaker Micron Technology (NASDAQ: MU). However, Micron is back in all-out growth mode, and it just turned a GAAP profit again in its last reported quarter (Q2 fiscal 2024, the three months ended in February 2024). Credit goes to a return of normal PC and smartphone purchasing, but another key factor is Nvidia's (NASDAQ: NVDA) generative artificial intelligence (AI) revolution.

Micron's return to profitability has big implications for its stock (as well as for memory chip manufacturing equipment and service providers like Lam Research (NASDAQ: LRCX)). But it also has potentially monumental implications for Nvidia and the already white-hot generative AI infrastructure boom. Here's what investors need to know.

As for high-level stuff, Micron reported a 58% year-over-year increase in sales last quarter to $5.82 billion. Its rapid return back to its last peak sales cycle, which occurred in 2022 at the end of the pandemic-induced chip shortage, will continue in fiscal Q3 2024 (which ends in May). Management is predicting revenue of $6.6 billion at the midpoint of guidance, which would equal a 76% year-over-year jump.

Continue reading


Source Fool.com

Micron Technology Inc. Stock

€100.80
1.580%
There is an upward development for Micron Technology Inc. compared to yesterday, with an increase of €1.57 (1.580%).
With 94 Buy predictions and 4 Sell predictions Micron Technology Inc. is one of the favorites of our community.
With a target price of 126 € there is a positive potential of 25.0% for Micron Technology Inc. compared to the current price of 100.8 €.
Like: 0
MU
Share

Comments