Micron's Strong Q/current Quarter Forecast Boosts AI Trade Narrative

about 1 month ago

Alexander Silva

"Uh, MU Micron. Yeah, a positive sign for the AI trade. Looking at shares of Micron right now, they are surging about 11%. This is of course the largest US maker of computer memory chips. Uh the company gave an upbeat forecast for the current quarter. They also signaled a surge in demand and supply shortages are allowing the company to charge more for their products. Analysts had estimated about $4.4 four billion dollars uh in revenue for the average period. But Micron actually blew out expectations. Their revenue will be 18.3 billion to 19.1 billion. It is benefiting from the voracious appetite for AI computing components. Its executive vice president of operations said that this is the most significant disconnect between demand and supply that he's seen in 25 years."

The insight focuses on Micron's impressive performance with an upbeat forecast and revenue figures far surpassing analyst expectations, underpinned by a robust demand for AI computing components which supports a strong near-term outlook for the stock.

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