Micron Says ‘We Are More Than Sold Out.’ Should You Buy MU Stock After Earnings?

Micron Technology (MU) delivered what Morgan Stanley called the best revenue and earnings beat in U.S. semiconductor history outside Nvidia (NVDA). Following its fiscal Q1 earnings, MU stock rose 10% as the memory chipmaker revealed it cannot keep up with surging demand for artificial intelligence. The company's blunt assessment during its earnings call captured the supply-demand imbalance reshaping the memory market: “We are more than sold out.”

Micron stock is up 200% over the last 12 months and brought investors a return of over 1,655% in the past decade.