Micron's HBM Chips in High Demand Amid AI Boom

Core Viewpoint - Micron Technology is experiencing significant growth driven by robust demand for AI-driven data center chips, leading to a strong outlook for fiscal 2025 [4][6][7] Group 1: Financial Performance - Micron reported $7.75 billion in revenue for the fourth quarter of fiscal 2024, nearly doubling from $4.4 billion a year earlier [5] - The company achieved a profit of $887 million, or 79 cents per share, a significant turnaround from a loss of $1.43 billion, or $1.31 per share, in the previous year [5] - Adjusted earnings per share were $1.18, exceeding analyst expectations [5] - For the upcoming fiscal first quarter, Micron forecasts revenue between $8.5 billion and $8.9 billion, with adjusted earnings per share ranging from $1.66 to $1.82, both surpassing market predictions [5] Group 2: Market Position and Growth Drivers - The company experienced 93% year-over-year revenue growth in the fourth quarter, primarily due to increasing demand for AI applications [6] - Micron's memory products are essential for processing large amounts of data in various sectors, including AI, automotive, and consumer electronics [1][2][3] - The company is well-positioned to capitalize on the growing market for memory chips, enhancing both revenue potential and profitability [7]