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Micron Technology shares jumped 16% after the memory-chip maker reported quarterly earnings showing revenue had quadrupled, fueled by soaring prices tied to a severe shortage in the memory market.
The results capped a remarkable stretch for the company, whose stock has climbed 700% over the past year.
Memory Crunch Drives Pricing Power The core driver behind Micron's outsized revenue growth was a supply-demand imbalance in the memory market that sent chip prices sharply higher.
When memory supply tightens, chipmakers with manufacturing capacity gain immediate pricing leverage — costs to buyers rise quickly while producers capture the margin expansion directly in revenue.
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