Micron forecasts quarterly revenue above estimates

Micron forecasts quarterly revenue above estimates Sept 30 : Micron Technology forecast quarterly revenue above estimates on Wednesday, signaling it expects the AI-driven memory chip boom to continue powering its growth. The generative AI boom has made high-bandwidth memory essential for data centers, benefiting companies such as Micron, a key supplier to Nvidia, whose pricey processors dominate advanced computing workflows. The company expects first-quarter revenue of $61.5 billion, plus or minus $1.5 billion, compared with analysts' average estimate of $57.02 billion, according to data compiled by LSEG. Adjusted profit is expected to be $38.15 per share in the first quarter, plus or minus $1, above estimates of $35.40. As the only major US-based HBM chipmaker, Micron has seen orders far exceed capacity, while the AI memory boom has tightened conventional chip supplies and driven prices higher across the broader semiconductor market. Fourth-quarter revenue more than quadrupled to $54.23 billion, beating estimates of $51.07 billion. Adjusted profit came in at $33.42 per share, exceeding estimates of $31.61.