Why Micron Technology Stock Is Soaring Today

Micron Technology (NASDAQ: MU) stock is surging in Monday's trading. The storage solutions company's share price was up 11.7% as of 1 p.m. EST amid the backdrop of a 1% gain for the S&P 500 index and a 1.5% rally for the Nasdaq Composite index.Micron stock is gaining ground today thanks to Nvidia-related news. Investors got a new indicator that demand for the artificial intelligence (AI) leader's hardware remains very strong, and there's also excitement that the AI pioneer's CEO could discuss new hardware featuring Micron's technologies during his presentation this evening.Foxconn Technology published its fourth-quarter results before the market opened this morning and reported record revenue. The China-based tech manufacturing company said that it was seeing strong sales for AI servers. Nvidia is one of Foxconn's largest customers. Meanwhile, Micron's technology is featured in Nvidia's Blackwell B200 and GB200 platforms.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool