Sharemarkets always like to look forward, especially when it’s been a tough week. So the blowout quarterly results delivered by computer memory chip maker Micron Technologies on Wednesday night on Wall Street delivered sweet relief to bullish investors who were starting to worry the artificial-intelligence trade was getting wonky.Micron’s numbers were nothing short of spectacular: earnings in the quarter that ended on May 31 jumped 1400 per cent on the prior year, to $US28.2 billion ($40.9 billion), well ahead of analysts’ forecasts of $US24.3 billion.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
There’s a new big short against private credit cockroaches
Bumper profits from AI memory maker Micron might have cheered investors, but the threat of higher interest rates and hefty redemptions are weighing heavily.
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