Micron's AI-Driven Surge: Record-Breaking Quarter

Micron Technologys stock surged following robust financial forecasts, driven by soaring demand for AI chips. The company reported an 82% revenue increase to $6.81 billion in Q3, exceeding expectations. Looking ahead, Micron projects a 12%-17% revenue growth in Q4, with profits ranging from $0.98 to $1.08 per share. CEO Sanjay Mehrotra attributes these results to a balanced supply-demand dynamic and AI-driven product leadership, setting the stage for significant growth in FY2025.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.