""Memory, of course, is in fierce demand for AI data centers, and that's led to shortages and soaring prices. The AI supercycle was pushing the company into territory it had never seen before.""
""You can get a low P/E ratio by having either a low P or a high E or both at the same time. But you can also have a rising P with an E that's just rising a whole lot faster.""
""The stock stays at 4 times earnings, but then gradually investors come around and the stock keeps climbing.""
""Micron's fiscal Q1 2026 results showed revenue of $13.64 billion, a 57% year-over-year increase, with non-GAAP EPS of $4.78, exceeding the consensus estimate of $3.94.""
Micron Technology's stock price increased from $70 to $450.49 over the past year, marking a 557% gain. The demand for memory in AI data centers has led to shortages and rising prices. Earnings exploded, with Micron achieving a non-GAAP EPS of $4.78, surpassing estimates. The skepticism surrounding semiconductor booms was acknowledged, but the earnings data has alleviated concerns, showing a 57% year-over-year revenue increase to $13.64 billion. The Cloud Memory Business Unit contributed significantly to this growth.
Read at 24/7 Wall St.
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