Shares of the memory chip maker rose 4% in extended trading.
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The race to build the most sophisticated AI models and expand the data center infrastructure that they run on has boosted demand for Micron’s high-bandwidth memory chips, or HBM.
Micron forecast first-quarter sales of $12.50 billion, plus or minus $300 million, compared with the analysts’ average estimate of $11.94 billion, according to data compiled by LSEG.
The company reported revenue of $11.32 billion for the fourth quarter, beating estimates of $11.22 billion.
Reporting by Arsheeya Bajwa in Bengaluru; Editing by Alan Barona