{"id":2870,"date":"2026-06-24T23:09:16","date_gmt":"2026-06-24T23:09:16","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=2870"},"modified":"2026-06-24T23:09:16","modified_gmt":"2026-06-24T23:09:16","slug":"micron-forecasts-strong-quarterly-results-on-soaring-memory-chip-demand","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=2870","title":{"rendered":"Micron forecasts strong quarterly results on soaring memory chip demand"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<li>Companies<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>June 24 (Reuters) &#8211; Micron (MU.O)<svg><\/svg><span>, opens new tab<\/span> forecast quarterly profit and revenue well above expectations on Wednesday and said its customers had \u200ccommitted $22 billion to lock in future supply of memory chips, sending its shares surging 12% in after-hours trading.<\/div>\n<div>The forecast &#8211; and third-quarter results that beat Wall Street estimates &#8211; underscore how AI-driven shortages are forcing Micron&#8217;s large-scale data center customers and other chip buyers to fund capacity, moves that are reshaping the memory market.<\/div>\n<div>Micron, \u200bwhich is the only U.S.-based manufacturer of high-end memory chips used alongside Nvidia&#8217;s AI processors, has seen demand for \u200bthese HBM chips far outstrip its production capacity.<\/div>\n<div>&#8220;We expect tight conditions to persist beyond calendar 2027 \u2060as a result of AI-driven demand across all segments coupled with structural supply constraints,&#8221; Micron CEO Sanjay Mehrotra said in the \u200bcompany&#8217;s prepared remarks.<\/div>\n<div>Micron&#8217;s stock has surged more than threefold this year, despite a 13% plunge on Tuesday as part of a \u200bbroader selloff.<\/div>\n<div>The chipmaker also outlined a business model shift aimed at making demand less cyclical. The $22 billion in commitments will come from 16 strategic customer agreements Micron has signed, spanning data center, consumer and automotive markets, with take-or-pay commitments, cash deposits and pricing floors designed to lock in supply \u200band protect margins.<\/div>\n<div>Micron also said that remaining performance obligations &#8211; a key indicator of future contracted revenue &#8211; for the customer agreements it \u200bhas entered into so far are around $100 billion.<\/div>\n<h2>SUPPLY CONSTRAINTS TO LAST<\/h2>\n<div>Micron, a key supplier for Nvidia&#8217;s (NVDA.O)<svg><\/svg><span>, opens new tab<\/span> AI processors, has benefited as AI chip \u200cand server \u2060makers rush to secure a limited supply.<\/div>\n<div>&#8220;The size and scale of the AI build out has been underestimated at every turn and memory will continue to command premium pricing on supply constraints,&#8221; said Daniel Newman, CEO of tech research firm Futurum Group.<\/div>\n<div>Major memory chip makers are prioritizing high-bandwidth memory to meet AI demand, leaving consumer electronics makers scrambling to secure conventional memory and driving prices of products higher.<\/div>\n<div>Mehrotra added \u200bthat the company does not \u200bhave a line of sight \u2060as to when memory supply will be able to catch up with increasing demand.<\/div>\n<div>&#8220;Any easing in supply could actually skew bearish for Micron. The bull case is built on tightness, once supply \u200bstarts to creep back, pricing power is the first thing at risk,&#8221; said Jake Behan, \u200bhead of capital \u2060markets at Direxion.<\/div>\n<h2>SPENDING RAMPS<\/h2>\n<div>Micron said it intends to increase its capital return, while it invests heavily in expanding infrastructure to satisfy soaring demand.<\/div>\n<div>The company expects fourth-quarter capital expenditure of around $10 billion, while analysts expect spending of $8.89 billion. Separately on Wednesday, SK Hynix (000660.KS)<svg><\/svg><span>, opens new tab<\/span> said it plans to raise up \u2060to $29.4 billion \u200bthrough a U.S. stock market listing.<\/div>\n<div>Micron reported third-quarter revenue of $41.46 billion, flying past \u200bestimates of $35.85 billion.<\/div>\n<div>The company reported adjusted profit of $25.11 per share, compared with estimates of $20.78 per share.<\/div>\n<div>Micron expects fourth-quarter adjusted earnings per share of $31, plus or minus $1, \u200bcompared with the estimates of $25.84 per share.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2868\">Wendy\u2019s hits over seven-month high as retail traders spark meme-like rally<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2866\">Brazil senator, Lula ally Wagner resigns from leadership amid corruption probe<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=2864\">Trading Day: Tech jitters smother inflation relief<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Micron forecast quarterly profit and revenue well above expectations on Wednesday and said its customers had \u200ccommitted $22 billion to lock in future supply of memory chips, sending its shares surging 12% in after-hours trading.<\/p>\n","protected":false},"author":1,"featured_media":2869,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[84],"class_list":["post-2870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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