πππThe AI trade needed a hero and
$Micron Technology(MU)$ came to its rescue with today's stunning earnings report.
Micron delivered USD 41.46 billion revenue, beating estimates by 18%. EPS was USD 25.11, beating by 24%. Gross margins near 85%. This is the highest on record.
AI memory is the new bottleneck and High Bandwidth Memory or HBM is the lifeblood of AI accelerators.
Micron also confirmed that HBM and DRAM supply is essentially sold out for years. AI customers are locking in multi year contracts worth USD 100 billion minimum revenue commitments.
This is the opposite of a boom bust cycle. It is in actual fact a structural scarcity.
Before the earnings, the entire AI sector was wobbling as investors fear that the AI rally had peaked.
Micron has flipped the script and is certainly a hero today.
@Tiger_comments @TigerStars @Tiger_SG
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