---
title: "美光科技股價下滑，因為其股票繁榮已達到頂峯"
description: "美光科技的股價下跌 4.5%，至 159.52 美元，此前其財報未能與今年 93% 的股價增長相匹配。儘管在第四季度超出華爾街預期並上調了第一季度的指引，但由於股價之前的飆升，投資者信心減弱。美光預計本季度收入將達到 125 億美元，超過預期，但對與人工智能相關需求的可持續性仍存擔憂。分析師指出，近期內存需求的增加可能源於過度訂購，而非真正的需求"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/258751366.md"
published_at: "2025-09-24T18:25:35.000Z"
---

# 美光科技股價下滑，因為其股票繁榮已達到頂峯

> 美光科技的股價下跌 4.5%，至 159.52 美元，此前其財報未能與今年 93% 的股價增長相匹配。儘管在第四季度超出華爾街預期並上調了第一季度的指引，但由於股價之前的飆升，投資者信心減弱。美光預計本季度收入將達到 125 億美元，超過預期，但對與人工智能相關需求的可持續性仍存擔憂。分析師指出，近期內存需求的增加可能源於過度訂購，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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