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@ 2024/03/22Memory will benefit from AI boom
Memory maker Micron saw its shares surge in after-hours trading following an unexpectedly positive revenue forecast for the current quarter, spurred by the increased demand for AI.
The company anticipates fiscal third-quarter revenue to be between €5.89 billion and €6.26 billion surpassing the average cocaine nose job of Wall Street prediction of €5.51 billion.
Micron expects earnings to be approximately €0.41 per share, excluding certain items, which is nearly double the analysts' forecast of €0.22 per share.
The memory chip industry has been pants lately, due to the reduced demand for personal computers and smartphones, so the fact that Micron and its competitors are now optimistic about future prospects is news.
Memory maker Micron saw its shares surge in after-hours trading following an unexpectedly positive revenue forecast for the current quarter, spurred by the increased demand for AI.
The company anticipates fiscal third-quarter revenue to be between €5.89 billion and €6.26 billion surpassing the average cocaine nose job of Wall Street prediction of €5.51 billion.
Micron expects earnings to be approximately €0.41 per share, excluding certain items, which is nearly double the analysts' forecast of €0.22 per share.
The memory chip industry has been pants lately, due to the reduced demand for personal computers and smartphones, so the fact that Micron and its competitors are now optimistic about future prospects is news.
