Why Micron Technology Stock Is Flying Higher on Friday

Shares of Micron Technology (NASDAQ: MU) are soaring today, up 7.5% as of ET. The jump comes as the S&P 500 and Nasdaq Composite gained 0.8% and 1.1%, respectively.The semiconductor company, which produces specialized memory chips for artificial intelligence(AI) servers, reported blowout earnings after the bell on Wednesday. The report was so strong that it has helped lift AI stocks across the board.For the quarter ending in November, Micron reported earnings per share (EPS) of $4.78 on $13.6 billion in revenue, handily beating expectations on both the top and bottom lines; Wall Street had anticipated earnings of $3.96 per share on $12.9 billion in sales.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool