Micron forecast revenue of $5.3 billion, plus or minus $200 million, for the second quarter, compared with estimates of $5.03 billion, according to LSEG data.
Micron Technology: "Demand for AI servers has been strong as data center infrastructure operators shift budgets from traditional servers to more content-rich AI servers," Micron CEO Sanjay Mehrotra said.
Micron: The company said it now expects an impact on about half of its revenue from China-headquartered firms, which equates to a low-double-digit percentage of its total revenue.
Micron is one of the three leading providers of DRAM semiconductors. Read why I think MU stock is undervalued intrinsically and relative to historic multiples.
Micron Technology is the 4th largest semiconductor company in the world. See why I think that MU stock could be a buying opportunity for the long-term investor.