Micron Technology Inc. (NASDAQ:MU) experienced a significant drop of nearly 8% in after-hours trading, following its latest earnings report. However, Gene Munster, the managing partner at Deepwater Asset Management, remains optimistic about the company’s AI prospects. What Happened: Munster on X, pointed out that the pressure point of High Bandwidth Memory revenue, which accounts for 2% of the total revenue, is lower than in previous quarters. He predicted a 10-15% increase in HBM revenue for the next year. “Good news is the AI trade is intact,” he said. He explained that the earnings report w…
