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Micron quarterly results nearly quadruple on AI boom, HBM demand outstrips supply

Micron posted quarterly results that beat market expectations, helped by a surge in memory demand from expanding AI infrastructure. It also issued a next-quarter forecast that exceeded market estimates, supporting expectations that shortages of AI memory could persist. The company reported fiscal fourth-quarter revenue of $54.23 billion and non-GAAP adjusted net profit of $38.4 billion, and guided for fiscal first-quarter revenue of about $61.5 billion.