In addition to the promising revenue forecast, Micron also expects to report earnings, excluding certain items, of approximately 45 cents per share. This projection notably exceeds analysts' expectations of 24 cents per share. The optimistic forecasts indicate a strong financial performance for the company in the upcoming quarter.
Key takeaways:
- Micron Technology Inc., a leading US computer memory chip maker, saw a surge in late trading due to a strong revenue forecast for the current quarter.
- The strong forecast is driven by the demand for artificial intelligence hardware.
- The company predicts its fiscal third-quarter revenue to be between $6.4 billion to $6.8 billion, surpassing the average analyst estimate of $5.99 billion.
- Micron's earnings, excluding certain items, are expected to be about 45 cents a share, which is significantly higher than the analysts' projection of 24 cents.