Market Moving Insight and Analysis joined Jim Kramer, David Faber, and me, Carl Kintania, on the opening bell hour of CNBC Squawk on the Street.

Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Kintanao with Jim Kramer at Post 9 of the New York Stock Exchange. David Faber is the morning off. Futures are getting challenged by a trio of poorly received earnings. Micron, Levi's, and Walgreens, all down 5 to 20% pre-market. Of course,

Nike tonight. Our roadmap begins with the chips under pressure. Micron does fail to top the revenue

forecast, despite executives expressing optimism about AI. Walgreens plunges ahead of the open,

slashing profit guidance in what it calls a challenging consumer environment. But then there

shares of Amazon climbing again after becoming only the fifth U.S. company to cross the $2 trillion

market cap. Let's begin, though, with Micron, not getting that AI boost in the pre-market,

the memory chip maker among the biggest laggards on the S&P. Revenue guidance overshadows a quarterly beat. But last night on the call, Sanjay Morotra did express some

optimism about AI demand. We expect continued price increases throughout calendar 24,

despite only steady near-term demand in PCs and smartphones.

As we look ahead to 2025, demand for AI PCs and AI smartphones

and continued growth of AI in the data center,

create a favorable setup that gives us confidence that we can deliver a substantial revenue record in fiscal 2025.

Jim, you're going to get a chance to talk to him tonight.

Yeah.

Okay, so do people know, Sanjay?

I mean, I read all the headlines.

Chris Stanley had a good piece.

Chris Stanley's always solid.

He's been around for a long time.

There's a way to be able to look at what Sanjay talks about. And I've gone over with many calls with Sanjay. And I'm glad I haven't tonight. And it's always like Sanjay, why didn't you give bigger guidance? And it's always like, Jim, that's not who I am. And then it's always like, yeah, but you see, he's going to hurt the stock. And then he's going to say, I don't do it for the stock. I do it to be able to make it so what I think we can be.

I don't want to lead people on. I don't want to create aggressive expectations. That's what this quarter was. So you buy the stock. I mean, it was down 10 at one point, so maybe you had a chance to buy it down 10. But I think that there's, there is some benefit to age. it's hard to find other than my daughter's letter X tweet that I just put up.

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