{"id":107295,"date":"2024-09-26T20:35:42","date_gmt":"2024-09-26T13:35:42","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=107295"},"modified":"2024-09-26T20:35:42","modified_gmt":"2024-09-26T13:35:42","slug":"micron-stock-soars-as-q1-revenue-forecast-tops-analyst-estimates","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=107295","title":{"rendered":"Micron stock soars as Q1 revenue forecast tops analyst estimates"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>Micron (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/MU\/\" data-ylk=\"slk:MU;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">MU<\/a>) stock surged 17% before the bell on Thursday after the chipmaker forecast higher-than-expected revenue for the upcoming quarter.<\/p>\n<p>Micron projected first quarter revenues of $8.5 billion to $8.9 billion, above the $8.3 billion analysts anticipated.<\/p>\n<p>Company executives attributed the raised guidance to a more favorable pricing environment as well as robust demand for Micron&#8217;s memory chips used in data centers to power artificial intelligence.<\/p>\n<p>&#8220;With the advent of AI, we are in the most exciting period that I have seen for memory and storage in my career,&#8221; CEO Sanjay Mehrotra said during a call with investors Wednesday afternoon. Mehrotra said the company is entering fiscal year 2025 with &#8220;the best competitive positioning in Micron&#8217;s history.&#8221;<\/p>\n<p>Executives now expect the market for high-bandwidth memory chips used in AI data centers to increase to $25 billion in 2025, up from $5 billion this year \u2014 and heightened demand for its HBM chips to bring in multiple billions of dollars next year.<\/p>\n<p>Analysts at Wedbush, JPMorgan, TD Cowen, and Raymond James reiterated their outperform rating of the stock, encouraged by Micron&#8217;s comments about AI demand and recovery in its more traditional markets. For example, they pointed to recovering demand for Micron memory chips from PC and smartphone manufacturers.<\/p>\n<p>Wedbush&#8217;s Matt Bryson said Micron&#8217;s first quarter outlook &#8220;very much mirrors our belief that overall memory dynamics are likely to improve significantly&#8221; after the beginning of next year.<\/p>\n<p>Raymond James analysts said, &#8220;HBM demand continues to be strong and Micron appears firmly on track to achieve its targets.&#8221;<\/p>\n<p>Micron is the first chipmaker to report quarterly results this earnings season. Its report provides an initial look at how the semiconductor sector is faring amid high expectations from Wall Street.<\/p>\n<p>The company reported revenue of $7.75 billion in its fiscal fourth quarter ended Aug. 29 \u2014 93% higher than last year and surpassing the $7.66 billion expected by analysts, who had recently softened their expectations. Adjusted earnings per share of $1.18 also exceeded both the top range of Micron&#8217;s guidance and the $1.11 forecast by Wall Street.<\/p>\n<p>Micron\u2019s memory chip business has undergone a resurgence over the past year as Big Tech companies pour billions into the semiconductor sector for hardware to power AI data centers.<\/p>\n<p>Micron distinguishes itself by partnering with, rather than competing against, industry superpower Nvidia (<a data-i13n=\"cpos:2;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/NVDA\" data-ylk=\"slk:NVDA;cpos:2;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">NVDA<\/a>). Micron supplies memory chips for Nvidia\u2019s hotly demanded GPUs.<\/p>\n<p><button class=\"link caas-button readmore-button-finance collapse-button readmore-button-class\" data-ylk=\"elm:readmore;slk:Story continues\"><span class=\"readmoreButtonText\">Story continues<\/span><\/button><\/p>\n<figure class=\"caas-figure\">\n<div class=\"caas-figure-with-pb\" style=\"max-height: 640px\">\n<div>\n<div class=\"caas-img-container caas-img-loader\" style=\"padding-bottom:67%\"><img decoding=\"async\" class=\"caas-img caas-lazy has-preview\" alt=\"FILE - A sign marks the entrance of the Micron Technology automotive chip manufacturing plant on Feb. 11, 2022, in Manassas, Va. On Tuesday, Oct. 4, chipmaker Micron announced an investment of up to $100 billion over the next 20-plus years to build a plant in upstate New York that could create 9,000 factory jobs. (AP Photo\/Steve Helber, File)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/pNkFElYZG2l5JoAnVUjHcA--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2022-12\/52963290-81a7-11ed-b6fb-d1aa3be90843\"\/><img decoding=\"async\" alt=\"FILE - A sign marks the entrance of the Micron Technology automotive chip manufacturing plant on Feb. 11, 2022, in Manassas, Va. On Tuesday, Oct. 4, chipmaker Micron announced an investment of up to $100 billion over the next 20-plus years to build a plant in upstate New York that could create 9,000 factory jobs. (AP Photo\/Steve Helber, File)\" src=\"https:\/\/s.yimg.com\/ny\/api\/res\/1.2\/pNkFElYZG2l5JoAnVUjHcA--\/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MA--\/https:\/\/s.yimg.com\/os\/creatr-uploaded-images\/2022-12\/52963290-81a7-11ed-b6fb-d1aa3be90843\" class=\"caas-img\"\/><\/div>\n<\/div>\n<\/div>\n<p><figcaption class=\"caption-collapse\">The Micron Technology automotive chip manufacturing plant in Manassas, Va. (AP Photo\/Steve Helber, File)<span class=\"caption-credit\"> (ASSOCIATED PRESS)<\/span><\/figcaption><\/p>\n<\/figure>\n<p>Investors have staggeringly high and ever-increasing standards for AI chipmakers, which have left them often disappointed in recent months. Micron\u2019s third quarter earnings beat did little to sway investors in late June, and <a data-i13n=\"cpos:3;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/stocks-churn-broadening-big-tech-155334877.html\" data-ylk=\"slk:shares plummeted;cpos:3;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">shares plummeted<\/a> due to its fourth quarter outlook, which came right in line with (rather than beating) Wall Street\u2019s expectations.<\/p>\n<p><a data-i13n=\"cpos:4;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/nvidia-wall-street-most-important-163312858.html?fr=sycsrp_catchall\" data-ylk=\"slk:Nvidia stock also sank;cpos:4;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">Nvidia stock also sank<\/a> after reporting quarterly earnings at the end of August. Despite more than doubling profits and beating sales forecasts, investors wanted more from the semiconductor superpower.<\/p>\n<p>Nvidia has since rebounded, and Micron&#8217;s fourth quarter results lifted its stock after an otherwise disappointing few months, which have seen shares plummet from highs in the $150 range in mid-June.<\/p>\n<p>The PHLX Semiconductor Sector Index (<a data-i13n=\"cpos:5;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/%5ESOX\/\" data-ylk=\"slk:^SOX;cpos:5;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">^SOX<\/a>) has begun to recover from a dip at the beginning of the month as tech stocks rallied following the US <a data-i13n=\"cpos:6;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/fed-cuts-interest-rates-by-half-point-signals-two-additional-cuts-this-year-090036916.html?fr=sycsrp_catchall\" data-ylk=\"slk:Federal Reserve\u2019s jumbo interest rate cut;cpos:6;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">Federal Reserve\u2019s jumbo interest rate cut<\/a> and <a data-i13n=\"cpos:7;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/what-chinas-biggest-stimulus-since-the-pandemic-means-for-us-investors-morning-brief-100039804.html?fr=sycsrp_catchall\" data-ylk=\"slk:the Chinese central bank\u2019s broad stimulus package;cpos:7;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" class=\"link  yahoo-link\">the Chinese central bank\u2019s broad stimulus package<\/a>. The index is up nearly 6% over the past week.<\/p>\n<p>The company is also set to benefit from <a data-i13n=\"cpos:8;pos:1\" href=\"https:\/\/www.politico.com\/news\/2024\/09\/24\/congress-forces-biden-to-choose-between-chips-and-climate-00180809\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:a bill awaiting signature from President Joe Biden;cpos:8;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">a bill awaiting signature from President Joe Biden<\/a> that would loosen environmental requirements for microchip projects funded by the CHIPS and Science Act. Micron is one of <a data-i13n=\"cpos:9;pos:1\" href=\"https:\/\/www.nist.gov\/chips\/national-environmental-policy-act-nepa\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:the biggest beneficiaries of CHIPS Act funding;cpos:9;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \">the biggest beneficiaries of CHIPS Act funding<\/a>, and the Building Chips in America Act passed by the US House of Representatives Monday would allow it to access funding for its projects in Idaho and New York faster.<\/p>\n<p><em>Laura Bratton is a reporter for Yahoo Finance.<\/em><\/p>\n<p><a data-i13n=\"cpos:10;pos:1\" href=\"https:\/\/finance.yahoo.com\/topic\/stock-market-news\/\" data-ylk=\"slk:Click here for the latest stock market news and in-depth analysis, including events that move stocks;cpos:10;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Click here for the latest stock market news and in-depth analysis, including events that move stocks<\/strong><\/a><\/p>\n<p><a data-i13n=\"cpos:11;pos:1\" href=\"https:\/\/finance.yahoo.com\/news\/\" data-ylk=\"slk:Read the latest financial and business news from Yahoo Finance;cpos:11;pos:1;elm:context_link;itc:0;sec:content-canvas\" class=\"link \"><strong>Read the latest financial and business news from Yahoo Finance<\/strong><\/a><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/micron-stock-soars-as-q1-revenue-forecast-tops-analyst-estimates-123207244.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Micron (MU) stock surged 17% before the bell on Thursday after the chipmaker forecast higher-than-expected revenue for the upcoming quarter. Micron projected first quarter revenues of $8.5 billion to $8.9 &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=107295\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-107295","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/107295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=107295"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/107295\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=107295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=107295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=107295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}