Why Micron Rallied 21% This Week
Micron Technology(MU) The Motley Fool·2024-09-27 21:30
The company beat earnings and gave better-than-expected guidance, defying skeptics.Shares of Micron Technology (MU -0.41%) rallied 20.9% on the week through Thursday trading, according to data from S&P Global Market Intelligence.Micron reported earnings on Wednesday, blowing away analyst estimates while also giving strong guidance. The move comes after the stock had been down nearly 50% from its June highs amid widespread concerns over memory demand. Therefore, the strong beat and guide caused a near-15% su ...