AI Demand Drives Key Moves from Micron, HPE, Amazon, and Meta
Last week, artificial intelligence dominated discussions across technology and industrial markets, with key developments from Micron Technology (MU), Hewlett Packard Enterprise (HPE), Amazon (AMZN), and Meta Platforms (META). Micron posted record fiscal fourth-quarter results, driven by surging demand for memory and storage from AI data centers. Revenue hit $54.2 billion, with NAND sales up 526% year over year. Analysts from Deutsche Bank and Mizuho maintained bullish outlooks, setting price targets of $1,550 and $1,400, respectively.
Hewlett Packard Enterprise (HPE) saw its stock rise over 10% after raising its fiscal 2027 Networking revenue growth forecast to a high-teens to low-20s range. The company also expects robust operating margins through fiscal 2029. Daiwa upgraded HPE to Outperform, citing strong demand for its products and optimistic future projections.
Amazon is reportedly considering an $8 billion deal for Nvidia AI chips, which could shift some infrastructure assets off its balance sheet. Additionally, Amazon secured a 20-year nuclear power agreement worth over $3 billion and a $1 billion deal with Synopsys to support its custom-chip efforts. Despite these moves, retail sentiment around Amazon stock remained neutral.
Meta Platforms introduced its lightest AI glasses yet, the Ray-Ban Meta Audio, and announced Muse, a personal AI assistant gaining rapid adoption. Meta stock fell 3% this week, with retail sentiment staying neutral. Meanwhile, SpaceX CEO Elon Musk revealed plans to rename the company’s AI unit from SpaceXAI to SpaceXSI, aligning with recent U.S. government terminology shifts. SpaceX stock rose over 6%, though sentiment cooled slightly.