Micron Technology impressed with record earnings, stock up 10%, reveals inability to meet AI demand. Revenue and EPS beat expectations, forecast for next quarter exceeds estimates. Company to focus on AI infrastructure, sees market growth to $100 billion by 2028. Micron’s pricing power akin to Nvidia’s three years ago.

Micron faces supply constraints, redirects capacity to AI infrastructure, cloud, data centers. Production bottlenecks due to physical limitations, not planning failures. Near-term growth depends on node transitions for DRAM and NAND, cloud memory sales double, SSD revenue exceeds $1 billion. Management expects durable pricing power.

Micron focuses on capacity expansion, tech leadership, reduces debt, repurchases stock. Analysts predict revenue to grow significantly by 2027. Stock price estimated to rise by 63% in five years. Majority of analysts recommend buying MU stock. Company’s free cash flow and adjusted earnings to increase substantially by 2027.

Read more at Yahoo Finance: Micron Says ‘We Are More Than Sold Out.’ Should You Buy MU Stock After Earnings?