00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Micron forecasts quarterly revenue above estimates as customers increased commitments
00:06under long-term supply agreements to $32 billion, reflecting strong demand for AI memory chips,
00:12according to Reuters. The company's stock has more than tripled this year,
00:16helping Micron reach a $1 trillion valuation in May. Adjusted fourth-quarter earnings were $33.42
00:22per share on revenue of $54.23 billion, beating estimates of $31.61
00:28and $51.07 billion. The company expects first-quarter adjusted earnings of $38.15 per share,
00:36plus or minus $1, and revenue of $61.5 billion, plus or minus $1.5 billion, both above estimates.
00:43CEO Sanjay Mehrotra said Micron has secured agreements for most of its 2027 high-bandwidth
00:49memory output and expects tighter memory and storage supply conditions in fiscal 2027 and 2028.
00:55For all things money, visit Benzinga.com.
