Micron Stock Surpasses $1,000 Again; No Indication of an Upcoming Split
Micron Technology's stock has climbed back above $1,000 per share after closing at $1,015.80 on Friday and trading near $1,032 early Monday morning. Despite the high price tag, there is no indication that a stock split is imminent, as management has not publicly addressed or announced such plans. Micron's recent earnings have driven its share price higher, with fiscal third-quarter results showing diluted earnings per share of $24.67 and guidance for $30.73 in the next quarter. This growth is fueled by strong demand from AI data centers driving up memory prices. Revenue surged to $41.5 billion year-over-year, while gross margin expanded significantly. The company has not split its stock since 2000 but other chipmakers like Nvidia and Broadcom have recently announced splits. However, no such plans appear on the horizon for Micron ahead of its next earnings report due Sept. 30.
Tickers: $MU
Topics: AI_demand earnings_per_share memory_chips stock_price