After a pretty gloomy tech pullback period, Wednesday saw all eyes snap straight to Micron (MU). 👀

In fact, some analysts are now calling it “one of the most important stocks in the world” — which is not a casual title to throw around. 🏆

All the action happened after the market closed, when Micron (MU) reported its latest quarterly earnings — and did not disappoint.

Profits came out at way higher than expected, bringing in far more money than Wall Street had predicted, with earnings per share being $25.11 vs $20.8 expected and $41.5 billion in revenue vs $35.9 billion forecast. Whats even more impressive is that number has more than quadrupled compared to last year. 🤯

On top of that, Micron is currently running at profit margins of around 85%, which basically means for every dollar they bring in, they’re keeping a huge chunk of it after costs. That is insanely high, especially for a business that has to build physical products.

The stock jumped around over 16% after hours, and many expect it to keep going up on Thursday’s day trading. 📈

The main driver behind all this money being thrown around are memory ships, which are increasingly in short supply thats to AI. 🤖

And here’s where it gets even better (financially speaking). Micron has already locked in about $22 billion worth of future sales through long-term deals, which technically means a big portion of their future revenue is already spoken for.

Looking ahead, the company expects to bring in even more, estimating around $50 billion in revenue next quarter, which again, is way above what people were expecting. And with supply shortages expected to last for years, this momentum might not be slowing down anytime soon. 🚀