<p>Micron Technology, the largest computer memory chip manufacturer in the United States, has released its latest financial report, showing strong financial fundamentals but falling short of Wall Street's high expectations. Quarterly revenue increased by 82% to $6.81 billion, exceeding analysts' expectations. Micron expects future storage demand to continue growing, driven by artificial intelligence capabilities. However, the company fell short of some analysts' expectations of over $8 billion for the next fiscal quarter</p>

- Micron Technology (MU.US) stock price initially dropped over 9% in after-hours trading following the release of its latest financial report, despite strong quarterly performance and outlook amidst the global AI investment surge.
- Micron reported a significant 82% revenue growth to $6.81 billion in the third quarter of the 2024 fiscal year, surpassing Wall Street expectations, with a positive outlook for PC and smartphone sales driven by AI technology.
- The company anticipates a robust demand for its HBM storage systems, benefiting from the AI trend, while facing high expectations for the next quarter's revenue, impacting its stock performance.

Zhitong

Micron Tech

The AI wave is sweeping the globe, triggering a surge in storage demand! Micron's revenue soared by 82%, but performance expectations failed to impress Wall Street