Micron Technology Inc., the memory-chip maker, has delivered a record quarterly revenue of $9.3 billion for its fiscal third quarter. This represents a 37% increase from the previous year and surpasses Wall Street’s expectations of $8.9 billion.
The company’s strong demand for high-bandwidth memory chips, which are in high demand due to their use in artificial intelligence, has driven this growth. Micron’s adjusted earnings per share came in at $1.91, beating estimates of $1.60. This positive outcome supports investors’ “super-bullish” outlook on the company’s prospects.
Source: https://www.marketwatch.com/story/micron-delivers-record-quarterly-revenue-supporting-investors-super-bullish-outlook-cb351984