Micron forecasts blowout earnings on booming AI market, shares rise

(Reuters) - Micron Technology (MU) forecast second-quarter adjusted profit at nearly double what Wall Street analysts expected on Wednesday, as prices soar for memory chips amid tight supplies and booming demand ​from artificial intelligence data centers. Shares of the Boise, Idaho-based company were up almost 15% on Thursday after the forecast. Micron ‌said it expected adjusted profit of $8.42 per share, plus or minus 20 cents, versus analyst estimates of $4.78 per share, according to LSEG data. Micro ...