Micron rallies in afterhours trading following blowout Q1 guidance By

-- Micron reported Wednesday blowout guidance for the current quarter following fiscal fourth-quarter results that topped analyst estimates as AI-led memory chip demand boosted performance.

Micron Technology Inc (NASDAQ:) shares rose about 8% in after-hours trading following the report.

Micron adjusted Q4 earnings of $1.18 per diluted share on revenue of $7.75 billion. Analysts polled by anticipated a adjusted EPS of $1.11 a share on Top 100 global foreign exchange traders in 2019revenue of $7.65B.

The better-than-expected results was boosted by "robust AI demand drove a strong ramp of our data center DRAM products and our industry-leading high bandwidth memory," the company said.

For Q1, the company forecast adjusted EPS in a range of $1.74, give or take $0.08, on revenue in the range of $8.70B, give or take $200M, compared with estimates for $1.58 and $8.35B, respectively.

 

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!