Latest news with #memorychips
Bloomberg
9 hours ago
- Business
- Bloomberg
Stock Movers: Micron, Yum! Brands, Bumble
On this edition of Stock Movers: - Micron (MU) shares are up after the largest US maker of computer memory chips, gave an upbeat forecast for the current quarter, helped by demand for artificial intelligence equipment. Fiscal fourth-quarter revenue will be roughly $10.7 billion, the company said in a statement Wednesday. That was well ahead of the $9.89 billion average analyst estimate, sending the shares up in late trading. Micron is seeing increasing demand for components like its high-bandwidth memory, which are used in machines that develop and run AI tools. The company expects continued growth from that market as such software becomes more complex, requiring bigger amounts of memory. The company is also starting to recover from narrower profit margins in the previous quarter. - Yum! Brands (YUM) shares rose after JPMorgan upgraded the operator of such chains as KFC and Taco Bell to overweight from neutral. Analyst John Ivankoe sees 'sustained 4%+ unit growth, strong FCF generation,' and a 'pulled-back valuation'. - Bumble (BMBL) shares are down in after hours trading. The dating app said it's cutting almost one-third of its staff, months after founder Whitney Wolfe Herd returned as chief executive officer to overhaul the struggling dating Austin-based company will eliminate around 240 roles globally, or about 30% of its workforce, it said in an exchange filing Wednesday. It expects to achieve as much as $40 million in annual cost savings from the reductions, and plans to 'reinvest the substantial majority' of those savings in 'strategic initiatives including product and technology development.'
CNA
10 hours ago
- Business
- CNA
Micron forecasts revenue above estimates on AI-driven memory chip demand
Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday, betting on robust demand for its memory chips used for artificial intelligence hardware in data centers. Shares of the memory chipmaker rose 4.3 per cent in extended trading. Micron said third-quarter sales of its high-bandwidth memory chips rose 50 per cent from the previous three months, and that it will continue to invest to meet demand. The results and the investment plans signal rise in demand for AI chips such as those from Nvidia and Advanced Micro Devices, both of which use Micron's memory chips. Many cloud companies such as Google have committed large investments this year on AI infrastructure expansion, which underscores strong demand for AI-related products. Micron is one of the three providers of high-bandwidth memory chips, besides South Korea's SK Hynix and Samsung. In April, Micron introduced a new business segment, called "cloud memory business unit", which will focus on products used by hyperscalers, as well as HBM chips that help perform data-intensive AI tasks quickly. Micron said it expects fourth-quarter revenue of $10.7 billion, plus or minus $300 million, compared with analysts' average estimate of $9.88 billion, according to data compiled by LSEG. The company expects an adjusted gross margin of about 42 per cent, plus or minus 1 per cent. Analysts on average expect an adjusted gross margin of 39.15 per cent. For the third quarter, Micron reported revenue of $9.30 billion, compared with estimates of $8.87 billion.
CNA
10 hours ago
- Business
- CNA
Micron forecasts quarterly revenue above estimates on AI-driven memory chip demand
Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday, betting on robust demand for its memory chips used for artificial intelligence hardware in data centers. Shares of the memory chipmaker rose 6.7 per cent in extended trading. Micron is positioned as a key player in the AI memory market. Its high-bandwidth memory chips are used in some of the most advanced artificial intelligence systems, including data centers. Many cloud companies, such as Google, have reaffirmed their investments this year to expand AI infrastructure, underscoring strong demand for AI-related products. Micron said it expects revenue of $10.7 billion, plus or minus $300 million, in the fourth quarter, compared with analysts' average estimate of $9.88 billion, according to data compiled by LSEG.
CNA
11 hours ago
- Business
- CNA
Micron forecasts quarterly revenue above estimates
Micron Technology forecast fourth-quarter revenue above Wall Street estimates on Wednesday, betting on robust demand for its memory chips used for artificial intelligence hardware in data centers. The memory chipmaker said it expects revenue of $10.7 billion, plus or minus $300 million, for the quarter, compared with analysts' average estimate of $9.88 billion, according to data compiled by LSEG.
Reuters
11 hours ago
- Business
- Reuters
Micron forecasts quarterly revenue above estimates on AI-driven memory chip demand
June 25 (Reuters) - Micron Technology (MU.O), opens new tab forecast fourth-quarter revenue above Wall Street estimates on Wednesday, betting on robust demand for its memory chips used for artificial intelligence hardware in data centers. Shares of the memory chipmaker rose 6.7% in extended trading. Micron is positioned as a key player in the AI memory market. Its high-bandwidth memory chips are used in some of the most advanced artificial intelligence systems, including data centers. Many cloud companies, such as Google, have reaffirmed their investments this year to expand AI infrastructure, underscoring strong demand for AI-related products. Micron said it expects revenue of $10.7 billion, plus or minus $300 million, in the fourth quarter, compared with analysts' average estimate of $9.88 billion, according to data compiled by LSEG.
