Tech
Micron gives solid forecast after AI boosts memory demand
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Micron Technology Inc., the largest US maker of computer memory chips, gave an upbeat forecast for the current quarter, helped by demand for artificial intelligence equipment.
Fiscal first-quarter revenue will be roughly $12.5 billion, the company said in a statement Tuesday. Analysts had estimated $11.9 billion on average. Excluding some items, profit will be about $3.75 a share, compared with a projection of $3.05.
The outlook validates the idea that Micron has become a key beneficiary of AI spending. Its high-bandwidth memory, or HBM, is critical to…
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