Why Micron Technology Stock Is Rising

Shares of Micron Technology (NASDAQ: MU) climbed 4.8% on Thursday, following the chipmaker's fiscal second-quarter results. 

More industries are adopting advanced technologies that require more memory chips, and Micron is the market leader. Its Q2 revenue, in turn, jumped 30% year over year to $6.24 billion.

"Our technology leadership in both DRAM and NAND places Micron in an excellent position to capitalize on the secular demand driven by AI and 5G, and to deliver new levels of user experience and innovation across the data center and intelligent edge," CEO Sanjay Mehrotra said in a press release.

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Source Fool.com