Micron Crushes Earnings, Guides Higher
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Show Notes
Micron Technologys Q2 earnings soared, with non-GAAP EPS of $12.20, surpassing estimates by $3.50, and revenue of $23.86 billion, up 196% YoY, beating forecasts by $4.56 billion. Bank of America raised their price target to $500, anticipating a prolonged memory market shift due to AI demand. The stock surged 161% in 6 months and 54% YTD, trading around $436. Micron guided Q3 revenue of $33.5 billion, above consensus, with gross margins near 81%, indicating sustained pricing power. Analysts predict a durable AI-driven upcycle, despite increased capex and potential margin peaks.
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