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Micron Technology beats estimates for third-quarter revenue on AI chip demand
Investors had sent the stock up 13% this month, ahead of earnings, on optimism that Micron would benefit from AI-driven demand. The company forecast revenue of $7.6 billion, plus or minus $200 million, for the current quarter, compared with an estimate of $7.6 billion, according to LSEG data. Micron is one of the few providers of high-bandwidth memory chips used in the most advanced AI systems, allowing it to cash in on surging demand for the semiconductors.
Reuters•
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