Micron Technology Inc. experienced a significant surge in its stock value, with shares jumping over 12% in after-hours trading, following the announcement of its fiscal Q2 24 earnings. The company reported adjusted earnings per share (EPS) of $0.42, surpassing the expected loss of $0.24 per share, and an adjusted revenue of $5.82 billion, exceeding the forecast of $5.35 billion. This performance, driven by strong demand for artificial intelligence (AI) hardware, led Micron to provide an optimistic revenue forecast for the current quarter, projecting adjusted revenue between $6.4 billion and $6.8 billion, above the estimated $5.99 billion, with an EPS guide of $0.38 to $0.52. Additionally, Micron highlighted the 'multi-year opportunity' presented by AI technology, positioning itself as a significant beneficiary in the semiconductor industry. The company's revenue was up 58% year-over-year, and the stock's value continued to soar by 14%.