Micron Technology, the largest US maker of computer memory chips, gave an upbeat forecast for the current quarter, a sign that surging demand and supply shortages are allowing the company to charge more for products. Fiscal second-quarter revenue will be $18.3 billion to $19.1 billion, the company said in a statement Wednesday. Analysts had estimated $14.4 billion on average for the period. Excluding some items, profit will be $8.22 to $8.62 a share, compared with a projection of $4.71. Micron is positioned as “an essential AI enabler,” Chief Executive Officer Sanjay Mehrotra said in the statement. “And we are investing to support our customers’ growing need for memory and storage.” Bloomberg Intelligence Semiconductors Analyst Jake Silverman joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)
Micron Gives Rosy Sales Forecast As AI Boom Spurs Demand
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