Micron's revenue almost tripled in the last quarter, but the memory company's stock has sunk about 15% since reporting earnings on Wednesday.
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Micron
’s blowout second-quarter earnings report fueled by a surge in memory demand hasn’t been a boon for the stock.
Since reporting on Wednesday, the memory maker’s stock has dipped about 15%.
Micron has benefited from the soaring demand for artificial intelligence chips, which require large amounts of memory.
Micron's stock has soared this year while its tech peers have struggled, as the impact of rising memory costs ripples across the…
Since reporting blowout earnings March 18, the memory maker's shares have slid about 30%.
As generative AI models get more sophisticated, companies need more memory and faster memory, Micron CEO Sanjay Mehrotra said in…
Micron said it expects the total addressable market for high-bandwidth memory to hit $100 billion by 2028.
Wednesday's blockbuster earnings were not enough to stop shares in Micron Technology from falling 5.5% in pre-market trading.
"We need more and more memory to address that demand," Micron CEO Sanjay Mehrotra told CNBC's Jim Cramer.
