๐ Micron Raises Q4 Forecast to $11B Amid AI Boom
Micron Technology Inc., the largest U.S. memory chipmaker, has increased its Q4 revenue forecast to $10.4Bโ$11B, far surpassing Wall Streetโs estimate of $9.89B (Bloomberg).
The surge in AI demand, especially for high-bandwidth memory (HBM) used in AI training and inference, is driving the growth.
Earnings per share (EPS) are projected at $2.50, exceeding analyst expectations of $2.03.
Micron shares rose 6% in after-hours trading following the announcement; stock is already up 51% year-to-date.
The company credits the demand for memory in AI data centers, cloud systems, and generative AI tools like chatbots and image models for its optimistic outlook.
Despite weakness in consumer electronics (PCs and smartphones), Micronโs AI, cloud, and server segments are booming.
Analysts believe Micron is well-positioned in the AI supply chain, with continued growth expected into 2025, though macroeconomic risks remain.$XRP