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Micron Technology Inc., the largest US maker of computer memory chips, delivered a sales forecast that topped Wall Street estimates after AI-fueled shortages of the components sent prices soaring.
Revenue will be approximately $50 billion in the fiscal fourth quarter, which runs through August, the company said in a statement Wednesday. Analysts estimated $43.2 billion on average. Excluding some items, profit will be about $31 a share, compared with a projection of $25.31.

The shares climbed about 5% in late trading after the report was released. They had already more than tripled this year, outpacing all other major chip stocks.

Micron and its peers in the memory space — Samsung Electronics Co. and SK Hynix Inc. — have become major beneficiaries of the artificial intelligence boom. A spending spree by data center operators has stoked the appetite for both conventional memory and a newer variety called high-bandwidth memory, or HBM, that works with AI systems.

On this episode, Carol Massar Tim Stenovec speak with:

• Ed Ludlow, Bloomberg Tech Host AND Jake Silverman, Bloomberg Intelligence Semiconductor Analyst
• Katie Hubbard, President, U.S. Capital Markets for Walton Global on state of the US housing market
• Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council
• Len Tannenbaum, Founder, Tannenbaum Capital Group AND James Crombie, Bloomberg News Senior Editor, Credit on private credit latest