2024-03-21 00:27:45 ET
Summary
- Micron's growth in memory and storage is driven by AI and HBM3 has exceeded expectations, with both the top line and bottom line above guidance.
- Strong demand for HBM products has led to pricing increases and supply shortages, positioning the Company for strong growth in the next two years.
- MU stock expects revenue to grow more than 75% YoY in Q3 and forecasts strong growth in FY24 and FY25 due to HBM production ramp-up and pricing increases.
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Micron: HBM Is Sold Out In FY24/FY25 Thanks To AI Demand, Rating Maintained