It’s the year of Micron (UM) in technology – not Nvidia (NVDA).
The extraordinary demand for its memory chips during the AI boom completely upended the company’s financial results. This is well illustrated in the table below User X’s Trading Whisperer.
Micron is poised to surpass all of the “Magnificent Seven” names in the current quarter in terms of operating profit. These seven names include: Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA).
What makes this even more interesting is that Micron has the smallest market cap among these six tech beasts, at around $1.1 trillion.
Micron has had an unforgettable week and year.
The company easily beat its sales and profit forecasts for the quarter on Wednesday, thanks to voracious demand from the AI boom. Guidance was also strong, except for margin comments during the earnings call.
But keep Micron’s quarter in context.
Consider this: Micron added about $43 billion in sales in the most recent quarter compared to last year’s quarter. It’s huge. Operating margins have exploded in all business segments.
Shares are up 285% year to date.
Brian Sozzi is the editor-in-chief of Yahoo Finance, host of the Sozzi unleashed morning show, the ‘Powerful actors with Brian Sozzi podcast and member of the Yahoo Finance editorial leadership team. Follow Sozzi on @BrianSozzi, InstagramAnd LinkedIn. Any advice on stories? Email brian.sozzi@yahoofinance.com.
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