Micron Technology Forecasts Strong Q2 Sales, Powered by AI Boom

Micron Technology Inc. provided an optimistic forecast for its fiscal second quarter, citing strong demand driven by the AI boom and ongoing supply shortages. The company expects revenue between $18.3 billion and $19.1 billion, significantly higher than analysts' expectations of $14.4 billion. Micron's profit is projected to range from $8.22 to $8.62 per share, well above the analyst forecast of $4.71. The increased demand for AI computing components has positioned Micron as a key player in the industry, with Executive Vice President of Operations Manish Bhatia noting that the current supply-demand gap is the most significant he has seen in his 25 years in the industry.