Micron says the AI party is far from over, but not all are celebrating

The bears may be ready for bed, but the AI party doesn't look to be ending anytime soon, as evidenced by Micron's quarterly earnings on Wednesday. But which stocks stand to gain the most depends on where they sit in the data center supply chain. Micron delivered a blowout quarter , with sales more than quadrupling to $41.46 billion from $9.3 billion a year ago, and beating analyst estimates of $36 billion. Adjusted earnings of $25.11 per share topped the $20.78 expected from analysts polled by LSEG. And the good times are still rolling. The maker of memory and storage chips is now guiding revenue for the current quarter of about $50 billion, up from just $11.3 billion a year ago, and well ahead of the roughly $43 billion expected by the Street. Positive indicators But it was the earnings conference call that really got investors going. Management got right to the point: supply of memory and flash storage won't catch up with demand for a long while. …