Micron's NAND Revenue Nearly Doubles to $11.85B, Union Talks Advance
MU has more than doubled off its 52-week low of $154.65.
Summary
Micron's Q2 NAND revenue surged 99.2% sequentially to $11.85 billion, underscoring explosive demand for memory chips. This follows the company's record Q3 results and $22B in take-or-pay commitments from Nvidia and others. Separately, mediation with the Taiwan Micron Memory Union is progressing, with a second session set for Oct 22. The NAND growth is a strong signal for the memory cycle, though the union talks add a minor operational risk.
At the time of this announcement, MU was trading at $1,017.79 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.1T. The 52-week trading range was $154.65 to $1,255.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.