Micron Technology, Inc. (NASDAQ:MU) analyst estimates on the top and bottom lines in the fourth quarter, and CEO Sanjay Mehrotra attributed the growth to AI-related demand.
- MU stock is moving. See all the details here.
Mehrotra described fiscal 2025 as a “record-breaking year,” and highlighted the company’s leadership in high-bandwidth memory and DRAM, as well as its strong position entering fiscal 2026.
Read Next: Rigetti, D-Wave, IonQ Set To Disrupt Everything—Expert Goes All In
AI Drives Growth
Not only did Micron beat estimates for the fourth quarter, the company also guided for first quarter revenue of $12.5 billion, plus or minus $300 million, versus estimates of $11.93 billion, according to Benzinga Pro.
Micron said it expects first-quarter adjusted earnings of $3.60 to $3.90 per share versus estimates of $3.04 per share.
Mehrotra said on the company's earnings call that he expects trillions of dollars to be invested in AI over the coming years.
The CEO explained that memory is central to AI, in an interview with CNBC on Wednesday.
He added that Micron's growth was fueled by demand from AI data centers, which accounted for more than 50% of revenue for the year.
"Over the next several years there will be trillions of dollars invested in AI and memory will actually benefit from that as well. Memory will be a significant portion of that investment," Mehrotra said.
He added that Micron is well-positioned in other markets outside of data centers, including AI-enabled phones and AI PCs.
"AI is the driver of our growth," Mehrotra said.
Read Next:
Photo: Shutterstock
