Micron may not be a household name, but it may just be among the most important tech companies in the AI era, and definitely one with a surprising backstory.
On Thursday, the memory chipmaker reported an eye-popping 346% surge in quarterly revenue. As if that weren’t enough, it reported a profit of $28.2 billion for the quarter, almost 15 times as high as the same quarter last year. By all accounts, the company blew past analyst expectations, sending its stock soaring almost 16% in after-hours trading. The rally continued into Thursday evening, with Micron’s shares closing up 15% at $1,213 per share.
