• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
Technology Research and Development: Photos showing technology R&D, which could include lab settings or engineers at work, to underscore the innovation behind AI hardware.

Micron Technology Forecasts Strong Revenue Growth Fueled by AI Hardware Demand

03/21/2024
3rd Dairy Market Innovation Asia Pacific Summit 2025

Be Part of the 3rd Dairy Market Innovation Asia Pacific Summit 2025

06/20/2025
S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

S.K.Singhi & Partners LLP Nominated for Go Global Awards 2025

06/19/2025
S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

06/19/2025
Assist Export Bridges Global Markets with Strategic Trade and Consultancy Solutions

Assist Export Nominated for Go Global Awards 2025

06/19/2025
Assist Export Bridges Global Markets with Strategic Trade and Consultancy Solutions

Assist Export Bridges Global Markets with Strategic Trade and Consultancy Solutions

06/19/2025
Tariffs Lowered in New UK-U.S. Trade Agreement

Tariffs Lowered in New UK-U.S. Trade Agreement

06/17/2025
U.S. Signs Order to Implement Partial Tariff Reductions on UK Imports

U.S. Signs Order to Implement Partial Tariff Reductions on UK Imports

06/17/2025
Canada, U.S. Target 30-Day Timeline for Economic and Tariff Agreement

Canada, U.S. Target 30-Day Timeline for Economic and Tariff Agreement

06/17/2025
NUTRITECH NUTRITION: Leading the Fight Against Malnutrition in South Asia

Nutritech Nutrition Nominated for Go Global Awards 2025

06/20/2025
NUTRITECH NUTRITION: Leading the Fight Against Malnutrition in South Asia

NUTRITECH NUTRITION: Leading the Fight Against Malnutrition in South Asia

06/17/2025
FlavAir StyX from Denmark’s Considaret Clk Group Expands Worldwide with Natural Anti-Addiction Filters

Considaret Clk Group Denmark Nominated for Go Global Awards 2025

06/20/2025
FlavAir StyX from Denmark’s Considaret Clk Group Expands Worldwide with Natural Anti-Addiction Filters

FlavAir StyX from Denmark’s Considaret Clk Group Expands Worldwide with Natural Anti-Addiction Filters

06/17/2025
supplychainreport
Friday, June 20, 2025
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

Micron Technology Forecasts Strong Revenue Growth Fueled by AI Hardware Demand

by Geraldine S.
03/21/2024
in Artificial Intelligence in Trade, Industry

Micron Technology, the leading computer memory chip manufacturer in the United States, witnessed a significant uptick in its share price during after-hours trading, following a revenue forecast that exceeded analysts’ expectations. This optimistic projection for the fiscal third quarter is largely attributed to the rising demand for artificial intelligence (AI) hardware.

The company anticipates revenue to be between $6.4 billion and $6.8 billion for the upcoming quarter, surpassing the average analyst forecast of $5.99 billion. Additionally, Micron predicts earnings of approximately 45 cents per share, excluding certain items, which is almost double the analysts’ expectation of 24 cents.

YOU MAY ALSO LIKE

S.K.Singhi & Partners LLP Nominated for Go Global Awards 2025

S.K.Singhi & Partners LLP Expands Global Legal Reach with LEXITS Platform and International Recognition

Emerging from a challenging period marked by a downturn in demand for personal computers (PCs) and smartphones, Micron and its competitors are now seeing a resurgence. The burgeoning AI market is playing a significant role in this recovery, presenting new growth and profitability opportunities for chip manufacturers. “We believe Micron is one of the biggest beneficiaries in the semiconductor industry of the multiyear opportunity enabled by AI,” stated CEO Sanjay Mehrotra.

Following the announcement, Micron’s shares surged by 15% in late trading. The company’s stock has already seen a 13% increase to $96.25 this year.

Mehrotra has set high expectations for the industry’s future, forecasting a rebound in 2024 and record sales levels in 2025. A key factor in achieving these goals is the production of ultrafast memory compatible with Nvidia chips, which are crucial for data center operators developing AI software.

High-bandwidth memory (HBM) chips, particularly a new variant known as HBM3E, are central to AI systems. These chips are less commoditized, allowing manufacturers like Micron to command higher prices. Micron reported its initial revenue from HBM3E memory in the recent quarter and anticipates several hundred million dollars in revenue from HBM products in fiscal 2024, with the majority of its production already sold out for 2025.

The development of AI software heavily relies on memory due to the extensive information processing involved. To prevent bottlenecks and maximize processor efficiency, Micron and its peers have engineered memory chips that facilitate faster communication with other components.

For the second quarter ending February 29, Micron reported a 58% increase in revenue to $5.82 billion, with earnings of 42 cents per share, excluding certain items. This performance surpassed the expected sales of $5.35 billion and defied predictions of a 24-cent loss per share. “Micron has returned to profitability and delivered a positive operating margin a quarter ahead of expectation,” Mehrotra highlighted in an analyst call.

Competing with global giants like South Korea’s Samsung Electronics and SK Hynix, Micron produces short-term memory chips for computers and phones, as well as flash memory for longer-term storage. Despite the interchangeability of these memory types, market volatility and price fluctuations remain challenges.

Micron aims to diversify its market presence beyond PCs and smartphones to mitigate demand fluctuations. However, the company is also hopeful for a resurgence in steady orders from these core markets after a period of inventory adjustment led to reduced demand and pressured chip prices last year.

On the same day, the US Department of Commerce announced substantial grants and loans to Intel for semiconductor factory expansions in the US, marking a significant move under the Biden administration’s Chips and Science Act. Micron has outlined a budget of $7.5 billion to $8 billion for new plants and equipment in fiscal 2024, with projects planned in China, Japan, and India. The company emphasized the necessity of sufficient governmental support to make US expansions competitive with overseas projects.

Get top supply chain report news on The Supply Chain Report. For international trade insights and tools, visit ADAMftd.com.

#MicronNews #AIHardwareNews #RevenueForecast #SemiconductorNews #TechIndustry

ShareTweet

Subscribe Our Newsletter

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.