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MU - Micron: HBM Is Sold Out In FY24/FY25 Thanks To AI Demand Rating Maintained
Micron Technology Inc.
2024-03-21 00:27:45 ET
Summary
Micron's growth in memory and storage is driven by AI and HBM3 has exceeded expectations, with both the top line and bottom line above guidance.
Strong demand for HBM products has led to pricing increases and supply shortages, positioning the Company for strong growth in the next two years.
MU stock expects revenue to grow more than 75% YoY in Q3 and forecasts strong growth in FY24 and FY25 due to HBM production ramp-up and pricing increases.