Micron crushes earnings as AI memory demand turns into a $22 billion backlog

Micron Technology (NASDAQ: MU) turned AI memory demand into a monster fiscal third quarter, with revenue of $41.46 billion and adjusted earnings of $25.11 per share. That was far above the $35.84 billion in revenue and $20.78 in adjusted EPS expected by analysts tracked by London Stock Exchange Group (LSE: LSEG). The stock jumped 15%...