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Micron Technology (MU) Expands Its Portfolio With New MRDIMM
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Micron Technology’s (MU - Free Report) shares jumped 49.4% year to date compared with the Zacks Computer & Technology sector's growth of 25.6%. The uptick can be attributed to MU’s back-to-back quarters of impressive financial performance and sustained focus on launching successful and innovative products.
MU recently rolled out multiplexed rank dual inline memory modules (MRDIMMs). The newly introduced memory module offers 39% more bandwidth and 15% more efficiency, as well as minimizes latency by 40% compared with its previous generation of RDIMMs.
Micron Technology is also focusing on improving the availability, serviceability and compatibility of the MRDIMMs. The company has improved its compatibility by introducing both standard and tall form factors. MU has also made it available in a wide range of capacities from 32GB to 256GB.
Micron Technology has also designed this MRDIMM with temperature factor in mind. The module is capable of reducing the temperature of Dynamic Random-Access Memory by 20° Celsius. MU will make the MRDIMM available in the second half of 2024 and it will be compatible with Intel’s (INTC - Free Report) Xeon 6 CPU platforms.
A broad range of improved features of this MRDIMM will gain MU new customers who are operating in memory storage, high-performance computing and artificial intelligence (AI) fields. Moreover, its compatibility with Intel Xeon 6 CPU platforms will enable companies to improve AI workloads, enhance efficiency and scale their cloud infrastructures.
Micron Technology has rolled out multiple products in the year so far, including Crucial DDR5 Pro Overclocking memory, Crucial T705 Gen5 NVMe SSD, LPCAMM2 Memory, Micron GDDR7, 128GB DDR5 RDIMM memory and Micron 4150AT SSD for AI, HPC and automotive markets. MU has achieved many of these features in collaboration with industry giants like Advanced Micro Devices (AMD - Free Report) and NVIDIA (NVDA - Free Report) .
While Advanced Micro Devices tested and integrated the samples of GDDR7 in its devices, NVIDIA collaborated with Micron Technology to mass produce high-bandwidth memory HBM3E for NVDA's latest AI chip. NVIDIA is expected to leverage the HBM3E to develop its H200 graphic processing units that will replace NVDA’s existing H100 chip.
The above factors have been contributing to Micron Technology’s Compute and Networking, Mobile and Embedded business units hence aiding its top line and overall performance.
Conclusion
Micron Technology is benefiting from its strong product launches and partnership with industry giants. MU has been on a recovery path from its financial difficulties experienced in late 2022 and early 2023. This improvement is evident in the company's financial results over the past few quarters.
The Zacks Consensus Estimate for Micron Technology’s third-quarter 2024 earnings has been revised upward from 95 cents to $1.08 in the past 30 days. Currently, MU carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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Micron Technology (MU) Expands Its Portfolio With New MRDIMM
Micron Technology’s (MU - Free Report) shares jumped 49.4% year to date compared with the Zacks Computer & Technology sector's growth of 25.6%. The uptick can be attributed to MU’s back-to-back quarters of impressive financial performance and sustained focus on launching successful and innovative products.
MU recently rolled out multiplexed rank dual inline memory modules (MRDIMMs). The newly introduced memory module offers 39% more bandwidth and 15% more efficiency, as well as minimizes latency by 40% compared with its previous generation of RDIMMs.
Micron Technology is also focusing on improving the availability, serviceability and compatibility of the MRDIMMs. The company has improved its compatibility by introducing both standard and tall form factors. MU has also made it available in a wide range of capacities from 32GB to 256GB.
Micron Technology has also designed this MRDIMM with temperature factor in mind. The module is capable of reducing the temperature of Dynamic Random-Access Memory by 20° Celsius. MU will make the MRDIMM available in the second half of 2024 and it will be compatible with Intel’s (INTC - Free Report) Xeon 6 CPU platforms.
A broad range of improved features of this MRDIMM will gain MU new customers who are operating in memory storage, high-performance computing and artificial intelligence (AI) fields. Moreover, its compatibility with Intel Xeon 6 CPU platforms will enable companies to improve AI workloads, enhance efficiency and scale their cloud infrastructures.
Micron Technology, Inc. Price and Consensus
Micron Technology, Inc. price-consensus-chart | Micron Technology, Inc. Quote
Micron Technology Benefits From Strong Products
Micron Technology has rolled out multiple products in the year so far, including Crucial DDR5 Pro Overclocking memory, Crucial T705 Gen5 NVMe SSD, LPCAMM2 Memory, Micron GDDR7, 128GB DDR5 RDIMM memory and Micron 4150AT SSD for AI, HPC and automotive markets. MU has achieved many of these features in collaboration with industry giants like Advanced Micro Devices (AMD - Free Report) and NVIDIA (NVDA - Free Report) .
While Advanced Micro Devices tested and integrated the samples of GDDR7 in its devices, NVIDIA collaborated with Micron Technology to mass produce high-bandwidth memory HBM3E for NVDA's latest AI chip. NVIDIA is expected to leverage the HBM3E to develop its H200 graphic processing units that will replace NVDA’s existing H100 chip.
The above factors have been contributing to Micron Technology’s Compute and Networking, Mobile and Embedded business units hence aiding its top line and overall performance.
Conclusion
Micron Technology is benefiting from its strong product launches and partnership with industry giants. MU has been on a recovery path from its financial difficulties experienced in late 2022 and early 2023. This improvement is evident in the company's financial results over the past few quarters.
The Zacks Consensus Estimate for Micron Technology’s third-quarter 2024 earnings has been revised upward from 95 cents to $1.08 in the past 30 days. Currently, MU carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.