Micron Technology, Inc’s Chief Business Officer Sumit Sadana expressed excitement about the company’s strategic investment in India during a recent panel discussion. CNBC reported that Micron’s capacity is fully booked through the end of 2025. Sadana highlighted the transformative impact of AI on sectors such as healthcare and education, noting how AI can analyze vast datasets to identify trends and develop targeted treatments faster than humans. Additionally, AI can provide personalized learning experiences to address the global teacher shortage.
Sadana emphasized the need for substantial semiconductor capacity and investment to train large language models (LLMs) in order to make these models smarter and more efficient to fully realize AI’s potential in solving complex problems. He discussed the importance of balancing global supply and demand in the semiconductor industry, cautioning about the need for careful management in government initiatives to incentivize domestic manufacturing and development.
In June, Micron reported third-quarter revenue of $6.81 billion, surpassing analyst consensus estimates. The company also reported third-quarter adjusted EPS of $0.62, beating analyst consensus estimates of $0.49. Micron Technology stock has gained 106% in the last 12 months. Investors can access the stock through iShares Core S&P 500 ETF IVV and Vanguard S&P 500 ETF VOO. At the last check, MU shares were trading lower by 1.26% at $129.75 premarket.