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Micron’s chips are fundamental components for everything from data-centre servers and personal computers to smartphones and vehicles.ALY SONG/Reuters
Micron Technology MU-Q forecast second-quarter revenue above Wall Street estimates on Wednesday, betting on soaring demand and strong pricing for its high-bandwidth memory chips used in artificial intelligence hardware.
Shares of the Boise, Idaho-based company rose 4 per cent in extended trading.
Micron’s chips are fundamental components in everything from data-centre servers and personal computers to smartphones and vehicles.
The company is seeing strong demand from data centres, fuelled by increased spending by large-scale cloud service providers that offer hardware and cloud capacity as services.
The company projected revenue for the current quarter to be US$18.70-billion, plus or minus US$400-million, compared with analysts’ average estimate of US$14.20-billion, according to data compiled by LSEG.
