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Micron forecasts strong revenue on AI boom; higher spending plan knocks shares
Yahoo Finance· 2026-03-18 20:05
By Juby Babu March 18 (Reuters) - Micron Technology forecast third-quarter revenue above Wall Street expectations after posting a sharp jump in the second quarter on booming demand ‌for memory chips used in artificial intelligence systems, while tighter supply drove record ‌earnings. But its shares fell 5% in extended trading on Wednesday after Micron said it was boosting its 2026 capital ​spending plan by $5 billion to keep up with the rising demand. The company aims to spend more than $25 billion th ...