FILE PHOTO: A smartphone with a displayed Micron logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -Memory chip maker Micron Technology tapped a surge in artificial intelligence adoption to forecast third-quarter revenue above estimates on Wednesday and post a surprise quarterly profit.
Its shares shot up more than 16% in extended trading, adding to a rise of more than 60% over the last 12 months. Micron's stock was last at about $110, and a close at that level on Thursday would be its highest ever.
