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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

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. 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 &mdash; Samsung Electronics Co. and SK Hynix Inc. &mdash; 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:
<ul>
<li>Ed Ludlow, Bloomberg Tech Host AND Jake Silverman, Bloomberg Intelligence Semiconductor Analyst</li>
<li>Katie Hubbard, President, U.S. Capital Markets for Walton Global on state of the US housing market</li>
<li>Ellen Wald, President of Transversal Consulting and Senior Fellow at the Atlantic Council</li>
<li>Len Tannenbaum, Founder, Tannenbaum Capital Group AND James Crombie, Bloomberg News Senior Editor, Credit on private credit latest</li>
</ul>

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Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec cover the changing world of money, power and technology.&nbsp;You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.&nbsp;

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Micron Sales Forecast Tops Estimates on Insatiable Memory Demand

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