Micron Technology up after Q2 net sales, profit forecast above estimates

Shares of memory chipmaker Micron Technology MU.O up about 6% at $240.30 after the bell

Co forecasts Q2 revenue above estimates, betting on soaring demand and strong pricing for its high-bandwidth memory chips used in AI hardware

Expects Q2 revenue to be $18.70 billion, plus or minus $400 million, vs. analysts' estimate of $14.20 billion, as per data compiled by LSEG

Also sees adjusted profit of $8.42 per share vs estimates of $4.78 per share

Q1 revenue grew almost 57% to $13.6 billion, beating analysts' estimates of $12.8 billion

Logs Q1 adjusted EPS of $4.78 vs. analysts' expectations of $3.95

As of last close, MU had nearly tripled YTD