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#MicronOvertakesMetaInMarketValue
Stop for a moment and think about this news: Micron is now worth more than Meta. This is a deal. Micron Technologys stock price went up by 18.4% yesterday which means the company is now worth $1.398 trillion. This is more than Metas $1.392 trillion. At one point Microns value was almost as high as Teslas $1.4 trillion.
One year ago Micron was worth around $140 billion. Now it is worth than $1.4 trillion. That is an increase in just twelve months. The reason for this jump is the companys latest earnings report. Micron made $41.5 billion in revenue which's up 346% from the same time last year. The company also said it expects to make around $50 billion in the quarter which is much more than analysts thought it would make.
One important number in the report is $22 billion. This is the amount of money that customers have paid upfront to secure Microns memory chips for the three to five years. This shows that companies are willing to pay a lot of money to make sure they have memory chips. This is because memory chips are very important for intelligence and data centers.
Microns executive vice president said that memory has never been as important as it is now. The market agrees, which is why Micron is now worth $1.4 trillion. Some analysts are comparing Micron to Nvidia, which became very successful with its graphics processing units. Micron is the US-based company that makes high-bandwidth memory chips, which are very important for artificial intelligence.
Apple also made some news yesterday. The company raised the prices of its MacBook and iPad models because the cost of memory and storage is going up. This shows that the shortage of memory chips is real and it is affecting big companies like Apple.
For people who trade cryptocurrency the fact that Micron's now worth more than Meta is a sign that the artificial intelligence infrastructure trade is strong. The $22 billion in customer deposits shows that there is demand for memory chips and this demand is not going away anytime soon.
Now that Micron is worth more than Meta and is expected to make $50 billion, in revenue quarter do you think the artificial intelligence memory trade will keep going up or is it time to take profits and invest in cryptocurrency again?
#MicronOvertakesMetaInMarketValue #GateSquare #TradFi