Micron has just turned in a blockbuster earnings report: last quarter revenue was $54.23 billion (vs. $11.32 billion in the same period last year), net profit was $37.7 billion (vs. $3.2 billion last year), all driven by AI that has pushed memory demand to the ceiling.
This earnings report is more directly tied to AI than any AI concept stock—when computing power has to be built up, memory has to be stacked up too, and HBM is even harder to come by.
It highlights one thing: this AI rally isn’t just pure storytelling—the underlying hardware is already getting paid for in real terms.
With the same batch of capital rotating between AI and crypto, Micron’s type of performance will keep pulling attention toward AI.
This earnings report is more directly tied to AI than any AI concept stock—when computing power has to be built up, memory has to be stacked up too, and HBM is even harder to come by.
It highlights one thing: this AI rally isn’t just pure storytelling—the underlying hardware is already getting paid for in real terms.
With the same batch of capital rotating between AI and crypto, Micron’s type of performance will keep pulling attention toward AI.