Micron forecasts high revenue growth on AI chip demand
Micron reported second-quarter revenue of $23.86 billion and raised its capital expenditure forecast. Strong demand for AI hardware is now driving growth.
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Micron Technology, Inc. has projected third-quarter revenue significantly above market expectations, fueled by an unprecedented surge in demand for memory chips required for artificial intelligence hardware. The company anticipates revenue of $33.5 billion, plus or minus $750 million, for the upcoming period, a figure that dwarfs the $24.29 billion average estimate previously compiled by analysts. This outlook follows a strong second quarter ending February 26, where the firm recorded $23.86 billion in revenue, beating the projected $20.07 billion.
