---
title: "美光科技股价下滑，因为其股票繁荣已达到顶峰"
description: "美光科技的股价下跌 4.5%，至 159.52 美元，此前其财报未能与今年 93% 的股价增长相匹配。尽管在第四季度超出华尔街预期并上调了第一季度的指引，但由于股价之前的飙升，投资者信心减弱。美光预计本季度收入将达到 125 亿美元，超过预期，但对与人工智能相关需求的可持续性仍存担忧。分析师指出，近期内存需求的增加可能源于过度订购，而非真正的需求"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/258751366.md"
published_at: "2025-09-24T18:25:35.000Z"
---

# 美光科技股价下滑，因为其股票繁荣已达到顶峰

> 美光科技的股价下跌 4.5%，至 159.52 美元，此前其财报未能与今年 93% 的股价增长相匹配。尽管在第四季度超出华尔街预期并上调了第一季度的指引，但由于股价之前的飙升，投资者信心减弱。美光预计本季度收入将达到 125 亿美元，超过预期，但对与人工智能相关需求的可持续性仍存担忧。分析师指出，近期内存需求的增加可能源于过度订购，而非真正的需求

By Katherine Hamilton

Shares of Micron Technology declined after its latest financial report didn't give a strong enough boost in confidence to match the 93% jump in shares' value this year.

The stock was down 4.5% to $159.52 on Wednesday. Shares have gained 38% in the past month alone.

Micron beat Wall Street estimates in its fiscal fourth quarter, as well as its guidance for the current first quarter, and several analysts raised their price targets for the stock. But the stock's run-up over the past year made it difficult for those numbers to impress investors.

The Boise, Idaho, company said it expects revenue in the current quarter to be $12.5 billion at the midpoint. That was ahead of the $11.91 billion consensus estimate on Wall Street, but some buy-side analysts were looking for around $12.5 billion, Wedbush analysts Matt Bryson and Antoine Legault said.

While Micron says it sees strong demand on top of constrained supply, there are still questions about where artificial-intelligence-related demand is headed and whether it can maintain its strength. AI giants such as OpenAI and Nvidia have made big orders for memory products in recent months, but the Wedbush analysts say there is a possibility that their demand won't last at such high levels.

"It's difficult to fully understand exactly what proportion of the uptick in hyperscale memory requirements the past few weeks is due to underlying real demand, vs. over-ordering to ensure supply," Bryson and Legault said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

09-24-25 1415ET

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