Micron beats quarterly revenue estimates

Core Insights - Micron Technology exceeded Wall Street expectations for its second-quarter revenue, driven by increased demand for memory chips used in artificial intelligence hardware [1][3] - The company is one of only three major suppliers of high bandwidth memory (HBM) chips, essential for AI technology, alongside Samsung and SK Hynix [2] Financial Performance - Micron reported a quarterly revenue of $23.86 billion, surpassing the estimate of $20.07 billion [3] - The company forecasts third-quarter revenue between $33.5 billion, plus or minus $750 million, significantly higher than analysts' average estimate of $24.29 billion [3] - The board approved a 30% increase in the quarterly dividend [3]