NewsNovo
Micron Technology shares surged 18% in premarket trading after the memory-chip maker reported revenue of $41.46 billion — more than four times the $9.3 billion it recorded in the same period a year earlier.
The Wednesday result is the kind of year-over-year comparison that commands attention even in a sector accustomed to violent swings.
The Numbers That Moved the Stock A revenue move from $9.3 billion to $41.46 billion in a single year is not something a buy-side analyst glosses over.
When a cyclical business more than quadruples its top line, the market's first questions are whether the recovery has further to run and whether the earnings quality behind the revenue growth is real.
Keep reading