Micron forecasts strong revenue as memory chip demand improves
(Reuters) -Micron Technology forecast quarterly revenue above market estimates on Wednesday, and its shares jumped nearly 5% in extended trading on signs of memory chip recovery in 2024 after one of the most significant downturns in years. Demand for flash storage and dynamic random access memory (DRAM) should keep improving next year, while at the same time supply will begin to approach historically normal levels, the memory chipmaker said. Memory prices, which slumped this year, will improve next year and rise further in 2025, Micron CEO Sanjay Mehrotra said in a conference call.
Source: yahoo.com
