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Micron Technology Surpasses Earnings Estimates with AI-Driven Growth
Micron Technology Surpasses Earnings Estimates with AI-Driven Growth
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BTCCSquare news:
Micron Technology's stock surged as much as 5% following a stronger-than-expected fiscal fourth-quarter report. The chipmaker posted earnings of $3.03 per share, eclipsing the $2.86 analyst consensus, while revenue climbed 46% year-over-year to $11.3 billion. Gross margins outperformed at 45.7%, signaling robust operational efficiency.
Sanjay Mehrotra, Micron's CEO, emphasized the company's unique positioning as the sole U.S.-based memory manufacturer to harness the AI boom. Data center demand for its memory chips fueled an unusually aggressive guidance boost, with Q1 profit projections at $3.75 per share—far above Wall Street's $3.05 estimate.
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