From Dow Jones & Company:



Micron Technology Inc. has seen a return to revenue growth, primarily due to the boom in AI-related chips. Their fiscal first-quarter results exceeded analysts’ estimates, with revenue growing to $4.7 billion, the first growth in six quarters. The company reported a net loss of $1 billion but predicted a return to an operating profit in the fiscal third quarter. Micron’s new memory-chip module, HBM3E, built for AI and supercomputing, is expected to generate significant revenue in fiscal 2024. The company sees potential for memory chips in AI-capable PCs and mobile devices, with the expectation of AI PCs ramping up production in the second half of 2024. Micron also plans to increase its capital spending in fiscal 2024 for the manufacturing of its new modules. Meanwhile, a pending lawsuit filed against Micron by a Chinese rival for patent infringement has not impacted the company’s recovery. This growth in revenue and potential for AI-related chips positions Micron as another investment opportunity in the AI boom.



Original: Opinion: Chip giant Micron is becoming another AI play for investors