Micron Beats Earnings on AI Memory Demand

Micron reported fiscal fourth-quarter earnings above estimates, with adjusted earnings per share of $33.42 on revenue of $54.23 billion, nearly quadruple the prior year. The memory maker issued strong first-quarter guidance of about $61.5 billion in revenue, as a global memory shortage driven by AI demand lifts prices and its stock has soared over 500% in a year.