Micron Technology Reports Strong Revenue Growth Amid Rising AI Demand

Micron Technology reported impressive second-quarter results, with earnings per share of $1.56 and revenue of $8.05 billion, both exceeding analyst expectations. The surge in demand for high-bandwidth memory (HBM) chips, driven by the AI boom, significantly contributed to this growth, with sales of HBM chips surpassing $1 billion for the first time. The company forecasts third-quarter revenue to reach approximately $8.8 billion, signaling continued strong demand for AI-related products. Micron's stock has risen 22% this year, reflecting investor confidence in its AI-driven growth prospects. CEO Sanjay Mehrotra expressed optimism that fiscal 2025 could achieve record revenue levels amid expected improvements in profitability. Overall, Micron's performance underscores its pivotal role in the AI infrastructure market.