Micron earnings top estimates, issues mixed guidance▼

Business

Published 62d ago

The memory and storage company reported a smaller adjusted loss than expected, ($1.07) per share compared to the ($1.18) estimate. Revenue of $4.01 billion topped Street estimates of $3.93 billion. First quarter earnings guidance of ($1.00-$1.14) missed expectations of ($0.96), however, Synovus Trust Senior Portfolio Manager Daniel Morgan points out that the company&#39;s revenue guidance was higher than estimates, describing the outlook as &quot;mixed.&quot; When it comes to Micron&#39;s prospects in AI, Morgan the company does &quot;benefit from AI,&quot; however there is not going to be a &quot;Nvidia-like impact from AI on this quarter. I think it&#39;s something that is going to play out over a longer period of time.&quot;&nbsp;</p> Source