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Micron beats earnings expectations with strong guidance as data center revenue surges

Source Summary

Micron reported earnings that exceeded expectations and issued strong forward guidance, driven by an 11-fold jump in data center revenue. The company's stock has risen over 500% in the past year as it capitalizes on surging artificial intelligence demand.

Why it matters

Micron's strong earnings and data center revenue growth demonstrate the material financial impact of AI infrastructure demand on semiconductor manufacturers.

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NASDAQ:MULive chart