X chatter is calling it a “bull posting” from Elon Musk on AI stock darling Micron (MU).
Whatever it is, it’s probably making Micron execs sleep comfier knowing the world’s richest person is a happy customer.
“Micron has been reasonable regarding future memory prices, while others have been extortionate, which is something today’s customers won’t forget… Micron is making is the smart move for long-term customer loyalty,” Musk said in anew X post.
Not that Micron needed more hype; it’s doing just fine making that happen on its own.
Micronblew it out of the water on its earnings day several weeks ago. Crushed it on every single line item. And with guidance.
Consider this: Micron added about $43 billion in sales during the most recent quarter compared to the year-ago quarter. It added more than $13 billion in sales from the quarter reported three months ago. All of this is massive.
Operating margins exploded in all business segments. In fact, operating margins are over 80% in some segments.
What’s more, Micron execs signal tight capacity and higher prices for its products until 2028.
Last week, the company announced it has raised its stock repurchase authorization to $35.16 billion. The company is able to start buying back stock on Dec. 9 once CHIPS Act restrictions lift.
“New technology, divestiture of non-core assets, and cost-cutting efforts should help it improve gross margins and profitability in the coming quarters,” JP Morgan analyst Harlan Sur said.
Brian Sozziis Yahoo Finance’s Executive Editor, host of theSozzi Unleashedmorning show, the ‘Power Players With Brian Sozzi’podcast and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X@BrianSozzi,Instagram, and<a href="https://www.linkedin.com/in/briansozzi/” rel=”nofollow noopener” target=”_blank”>LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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