Micron's AI Boom: Shares Soar on Strong Forecasts

Micron Technologys shares surged in after-hours trading following robust financial forecasts, indicating a significant increase in demand for its memory chips, primarily driven by AI applications. The company reported impressive Q3 revenue of $6.81 billion, an 82% year-over-year increase, and anticipates even higher revenue in the August quarter, projecting between $7.4 and $7.8 billion. Microns CEO attributed these strong results to improving market conditions and innovative products, particularly in high-bandwidth memory solutions crucial for AI.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.