Micron Gives Rosy Sales Forecast After AI Boom Spurs Demand
Summarize this article with:
Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Micron Technology Inc., 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 statementBloomberg Terminal 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.