SOME WELCOME NEWS:
Although tech companies have been hammered over the past few days, stocks in Asian markets rallied following Micron’s forecast
Bloomberg
Micron Technology Inc, the largest US computer memorychip maker, surged in premarket trading after its quarterly sales forecast crushed Wall Street estimates, signaling that an artificial intelligence (AI)-fueled growth run remains strong.Revenue would be approximately US$50 billion in the fiscal fourth quarter, which runs through August, the company said in a statement on Wednesday.Analysts estimated US$43.2 billion on average.
The Micron Technology Inc logo is pictured on a sign outside its headquarters in San Jose, California, on June 25 last year.
