Micron reported record fiscal second-quarter revenue of $23.86 billion, tripling from a year earlier, but its shares fell for a fourth straight session.
Micron sharply lifted second-quarter revenue on a surge in AI chip demand, but its shares have fallen 15 percent, moving against market expectations, CNBC reported on March 24.
Investors appear to have taken profits, adding to the share-price decline.
Micron, along with SK Hynix and Samsung Electronics, dominates the memory market that AI companies need. But deepening supply shortages mean it is securing only half or two-thirds of the volume demanded by major customers.
Micron CEO Sanjay Mehrotra (산제이 메로트라) said, "Memory supply is very tight, and it is difficult to increase it in a short period of time."
Major investment banks including Bank of America, Morgan Stanley and JPMorgan raised their price targets after the earnings release, but Citigroup analyst Atif Malik (애티프 말릭) said, "Concerns over increased investment in FY27 and peak profitability appear to have caused the share-price decline."
Chi-gyu Hwang
delight@d-today.co.kr