Micron Technology reported a 58% revenue increase to $5.82 billion for fiscal Q2 2024.

The company's stock surged by 15%, attributed to the growing demand for AI technology.

Micron's CEO Sanjay Mehrotra sees AI as a multiyear growth opportunity for the company.

Micron provides a Q3 revenue forecast between $6.4 billion and $6.8 billion.

Investor interest spiked as Micron's HBM3E memory is sold out for 2024 and most of 2025.

Micron anticipates its high-bandwidth memory technology to significantly boost revenues and gross margins.

Rising memory prices and the financial demands of U.S. expansion present potential challenges for Micron.

Broadcom's shares increased over 5% after an AI event, with new AI products and a growing customer base in the consumer AI space.

Analysts from Goldman Sachs and Bank of America are optimistic about Broadcom's AI-related growth, leading to an increased stock price target.