Micron stock initially higher after reporting earnings
Micron reports:
- EPS of $25.11 vs $20.6 estimate
- Sees 4Q at $31 vs $25.50 estimate
For some perspective, this was a $40 stock a year ago and is now making 75% of that in a quarter. Their margins are +85% as they've absolutely put the screws to the market on pricing as AI hyperscalers plow all the money they can into the build out.
Micron shares have essentially wiped out today's decline and are up 4% after hours.
Micron said it expects tight conditions to persist beyond calendar 2027 due to AI demand. They also said they're looking to make long-term deals with customers on pricing.
“Micron is investing at record levels in technology, products and supply to address our customers’ rapidly growing demand. We believe our multi-year Strategic Customer Agreements will significantly enhance the durability and predictability of Micron’s strong financial performance," said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology.
He also said they currently do not have a line of sight to when memory supply will be able to catch up to demand.
Update, shares now up to $1148.
This article was written by Adam Button at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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