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MU - Micron: HBM3E Shipment Ramping Up From Q3 Expect Strong Revenue Growth
Micron Technology Inc.
2024-07-06 05:06:56 ET
Summary
Micron's stock price surged by over 16% since March 2024, driven by strong growth in memory and storage, particularly in AI and HBM3.
Micron reported 50% sequential data center revenue growth in Q3, driven by AI demand, and anticipates HBM3E revenue to reach multiple billions in FY25.
Micron is well-positioned to benefit from the CHIPS and Science Act, with plans for manufacturing expansion and potential revenue growth to exceed $30 billion in FY25.