Micron Exceeds Earnings Estimates Amid Global Memory Chip Shortage
Micron Technology reported fiscal fourth-quarter earnings that exceeded analyst expectations, driven by strong demand for memory chips used in AI infrastructure. The company's revenue came in at $54.23 billion compared to the expected $51.07 billion, while adjusted EPS reached $33.42 versus an estimate of $31.61. Micron is currently the only U.S.-based manufacturer of high-bandwidth memory (HBM), a critical component for AI workloads that has seen soaring demand and limited supply. The global shortage of HBM chips, driven by increased usage in advanced processors from companies like Nvidia and AMD, has led to higher prices across consumer electronics. Micron is investing $250 billion into new manufacturing facilities in the U.S., including a major site in New York and another set for completion next year in Boise, Idaho.
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Topics: AI infrastructure HBM production memory chips stock performance