Micron Technology reported a sharp quarterly performance fueled by artificial-intelligence demand for memory semiconductors, with sales rising by about $43 billion from the prior-year quarter and more than $13 billion sequentially. The company beat sales, profit and guidance expectations, expanded operating margins across all business segments, and exceeded 80% margins in some. Executives said capacity would remain tight and product prices higher through 2028, while employee bonuses and initial ramp-up costs at new production facilities will add to expenses. D.A. Davidson analyst Gil Luria said the expected tightening of supply and demand through 2027 and 2028 could extend the industry's period of strong pricing and earnings growth, countering concerns that current fundamentals represent a cyclical peak.