"AI Boom Propels Micron Stock 14% Higher on Earnings Beat"

Micron Technology's shares surged over 14% in after-hours trading following the announcement of second-quarter fiscal 2024 results that surpassed analysts' expectations, driven by the artificial intelligence boom. The company reported adjusted earnings per share of 42 cents and revenue of $5.82 billion, attributing its success to the increasing demand for memory and storage in data centers powering AI software. Micron's CEO, Sanjay Mehrotra, expressed confidence in the company's position as a major beneficiary in the semiconductor industry amidst the multi-year AI opportunity.