Strong AI Revenue Lifts Micron Stock
1. Micron's Q3 revenue soared by 37% year-over-year to $9.3 billion. 2. High-bandwidth memory (HBM) sales surged nearly 50%, driven by AI demand. 3. Micron's gross margin improved to 39%, expected to rise to 42% in Q4. 4. Supply constraints in HBM production could limit growth despite strong demand. 5. Micron is expanding capacity and introducing high-margin HBM4 products.