From The Motley Fool · Danny Vena, CPA · · 40s
Micron Stock Rallies on SK Hynix Report
Micron stock jumps 4.8% after SK Hynix reports record revenue and strong outlook.
In brief
Micron stock jumps 4.8% after SK Hynix reports record revenue and strong outlook. Micron Technology stock rose 4.8% as SK Hynix reported record revenue and forecasted sustained demand through 2030. Originally reported by The Motley Fool.
Micron stock jumps
Shares of Micron Technology (MU) rose 4.8% Wednesday as of 11:31 a.m. ET.
SK Hynix reports record revenue
SK Hynix reported 104.6 trillion south korean won in revenue, up 328% year over year.
SK Hynix outlook
SK Hynix expects demand to outpace supply through 2030 and has sold out for next three years.
“Demand [is] expected to outpace supply through 2030”
Micron benefits from demand
Micron will benefit from high-bandwidth memory and ai-driven chip demand.
The essence
Micron Technology stock rose 4.8% as SK Hynix reported record revenue and forecasted sustained demand through 2030.
