Micron Technology, Inc. (MU) will release its fourth-quarter fiscal year 2024 results on September 25, following market close.
MU Quarterly Earnings Projection
The business estimates $7.6 billion in revenue for the fourth quarter of its fiscal year (+/- $200 million). With a top-line estimate of $7.64 billion, analysts estimate a robust annualized expansion of 90.5%.
In the interim, Micron projects adjusted revenue of $1.08 (+/-8 cents). Over the last 60 days, the average consensus identified for the bottom path has increased by 2 cents to $1.10 per share, indicating a significant improvement over the $1.07 loss from last year's quarter.
How AI Adoption Could Affect The MU?
The increasing adoption of artificial intelligence (AI) systems with graphics processing unit (GPU) support is expected to drive up memory chip demand, which is expected to significantly boost Micron's fourth-period outcomes. Memory becomes an essential component as data center operators increase the capabilities of their systems with GPU-powered massive language models and generative AI. Micron's earnings for the to-be-reported period most likely increased due to this spike in consumer preference for AI servers.
Another factor bolstering Micron's achievement is the expanding memory chip market's supply-demand equilibrium. For a few quarters, Micron's financial results were negatively impacted by excess inventory in multiple sectors. The company has, however, experienced improved circumstances over the last three quarters, which have permitted an increase in the cost of NAND and DRAM memory chips, both of which are essential to its operations.
