Computer memory chipmaker Micron Technology (MU) delivered blowout Q3 earnings on Wednesday, lifting the entire AI memory sector, AI-related stocks and even giving crypto a slight boost.
Bitcoin climbed back above $60,000 after markets closed, but bullish AI sentiment will ultimately pull more liquidity away from crypto.
Micron shares surged 16% in premarket trading on Thursday after the memory chipmaker’s third quarter guidance exceeded Wall Street expectations. Third-quarter revenue came in at $41.5 billion versus estimates of $35.7 billion, while earnings per share (EPS) reached $25.11 compared with expectations of $20.49.
Memory chips have become the backbone of AI infrastructure, particularly high-bandwidth memory…
