Lates News

Micron Technology (MU.O) predicted on Wednesday that its fourth-quarter revenue will exceed Wall Street expectations, indicating that strong demand for AI-related infrastructure will continue to drive strong demand for its storage chips. The company's stock price rose nearly 10% in after-hours trading. Micron Technology expects fourth-quarter revenue to be $50 billion (plus or minus $1 billion), while analysts' average expectations are $43.58 billion. This performance and forecast indicate that the explosive growth of Generative AI has made products such as HBM key components of large data centers, driving prices up. The company's quarterly report also shows that third-quarter revenue reached $41.4 billion, far exceeding the market's expectations of $35.4 billion.