Micron CEO calls bottom in memory-chip market, but weak PC, smartphone forecasts cut into expected AI gains

Micron Technology Inc. shares rose in the extended session Wednesday after the memory-chip maker’s chief executive called the bottom on the sector, and quarterly results came in better than expected.

Micron MU shares had jumped more than 5% after hours following the release of results, but by the end of the company’s conference call with analysts, the stock was up less than 2%. Shares finished Wednesday’s session with a 0.4% gain to close at $67.07, while the S&P 500 index SPX declined less than 0.1%.


Read more from source