Micron's AI Opportunity Isn't as Big as It Looks

Memory chip manufacturer Micron (MU 3.48%) threw investors for a loop on Thursday with a quarterly report that featured an outlook that wasn't even in the ballpark of Wall Street's expectations.In the first quarter of its fiscal 2025, Micron's performance was solid, buoyed by soaring demand for high-bandwidth memory (HBM), which is critical for AI accelerators. However, the companies that buy its PC and mobile memory chips now have too much inventory on hand and are pulling back. Micron's guidance for the f ...