Micron forecasts surging revenue as computer memory demand for AI remains high

Core Insights - Micron Technology reported fiscal first-quarter results that exceeded Wall Street expectations for both sales and earnings per share, leading to a 5% increase in shares during extended trading [1] - The company anticipates approximately $18.70 billion in revenue for the current quarter, significantly higher than the $14.20 billion expected by LSEG, with adjusted earnings per share projected at $8.42, surpassing the $4.78 consensus [1] Financial Performance - Micron achieved a net income of $5.24 billion, or $4.60 per share, in the first quarter, compared to $1.87 billion, or $1.67 per share, in the same period last year, marking a 57% year-over-year revenue increase [3] - Adjusted earnings per share were reported at $4.78, exceeding the estimated $3.95, while revenue reached $13.64 billion, surpassing the estimated $12.84 billion [4] Market Demand - The growth in AI data center capacity is significantly driving demand for high-performance and high-capacity memory and storage, with server unit demand reportedly growing in the "high teens" percentage range in 2025 [2]