Micron Technology Reports Strong Growth in AI Prospects Impacting Forecast
Thursday, 21 March 2024, 20:34
Micron Technology's Exceptional Forecast
On Wednesday, Micron Technology (NASDAQ: MU) topped estimates with its robust second fiscal quarter results. Upon the report, shares of the Nvidia Corporation (NASDAQ: NVDA) supplier surged to a record high.
Second Quarter Of Fiscal 2024
For the quarter ended on February 29th, Micron reported revenue grew 58% to $5.82 billion, leaving Micron with a profit of $793 million, or 71 cents a share, improving from last year’s comparable quarter when it reported a loss of $2.31 billion, or $2.12 a share.
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