MU Posts Strong A.I. Demand, GEV Upgrade Rally, KMX Stalls on Earnings

Micron Technology - Micron's earnings report exceeded expectations, leading to a significant rally in its stock price, with a forecast of adjusted profit nearly double analysts' projections [4][6] - The strong demand for memory chips, particularly driven by AI data centers, is a key factor in Micron's performance, with analysts noting that the company may struggle to meet all demand [5][6] - The stock has seen a year-to-date increase of over 160%, with an additional rise of approximately 14% following the earnings report [6] Semiconductor Industry - The positive results from Micron have boosted other companies in the memory sector, including Western Digital, Seagate, AMD, and Nvidia, indicating a broader recovery in the tech trade [2][3][4] - Analysts are upgrading their ratings for companies in the semiconductor space, reflecting a more optimistic outlook on the durability of the memory cycle [6][7] CarMax - CarMax reported earnings of 43 cents per share and revenue of $5.79 billion, which beat expectations, but still faced a year-over-year sales decline of nearly 7% [12][13] - Comparable used unit sales fell by 9%, and management indicated a need to lower margins and increase marketing spending to drive sales [12][13] - The company withheld fourth-quarter guidance and is in search of a permanent CEO, raising concerns about its future performance and turnaround efforts [14]