Micron's Q1 Earnings: Revenue Triples YoY, Beats Expectations by 4 Billion

Micron Technologies reported a significant beat in earnings, with revenue nearly tripling YoY to $24 bln, beating expectations by $4 bln. Gross margin doubled to 74% YoY, and guidance for the current quarter was raised to $33.5 bln, a 50% margin. Despite the impressive numbers, the stock price didn't react strongly, potentially due to Wall Street having high expectations for memory chip companies.