Latest news with #MicronTechnologyInc.
Mint
26-06-2025
- Business
- Mint
Micron Gives Upbeat Forecast, Lifted by AI Computing Demand
(Bloomberg) -- Micron Technology Inc., Wall Street's favorite chipmaker this year, gave an upbeat forecast for the current quarter, helped by demand for artificial intelligence equipment. Though the company posted third-quarter results and a fourth-quarter forecast that exceeded estimates, the stock pared gains in late trading after a conference call with executives. A key focus was high-bandwidth memory, a component used in artificial intelligence computing. The technology is fueling a sales surge at Micron, but the company didn't predict the kind of runaway growth that some investors were looking for. The sales gains 'while impressive, still roughly parallel our prior expectations,' Matt Bryson, an analyst at Wedbush Securities, said in a note. After initially gaining as much as 7.7% following the release of Micron's earnings report on Wednesday, the stock briefly turned negative. It rose 2% in premarket trading on Thursday. High-bandwidth memory, or HBM, has become the star of Micron's business. It's used in machines that develop and run AI tools. The company expects continued growth from that market as such software becomes more complex, requiring bigger amounts of memory. The company is also starting to recover from narrower profit margins in the previous quarter. On the conference call, analysts peppered Chief Executive Officer Sanjay Mehrotra with questions about HBM, trying to get a sense of how much growth is coming. Fiscal fourth-quarter revenue will be roughly $10.7 billion, the company said. That was well ahead of the $9.89 billion average analyst estimate. Profit will be around $2.50 a share, excluding certain items, compared with a projection of $2.03. Sales rose 37% to $9.3 billion in the fiscal third quarter, which ended May 29. Analysts had estimated $8.85 billion. Earnings were $1.91 a share, excluding some items, compared with an average prediction of $1.60. In addition to pursuing more AI revenue, Boise, Idaho-based Micron is looking to sell more memory to other areas, such as electric vehicles and gaming chips, according to Dan Morgan, senior portfolio manager at Synovus, said in an earlier note. The growth prospects had turned Micron into the chip industry's hottest stock this year, with the shares gaining 51% through Thursday's close. --With assistance from Ian King. (Updates with premarket shares and additional context) More stories like this are available on
The Sun
21-05-2025
- Business
- The Sun
MIDA introduces two programmes at SEMICON SEA 2025 to boost international partnerships
KUALA LUMPUR: Malaysia Investment Development Authority (MIDA) introduced two strategic programmes at SEMICON South East Asia (SEA) 2025 to accelerate industry growth and foster international partnerships. According to MIDA, the two strategic programmes, namely the Supply Chain Programme and Handshake Session, emerged as cornerstone events, including participation from industry giants such as Micron Technology Inc., ASML Holding NV and Ferrotec Holdings Corporation. It said the sessions created direct pathways for Malaysian suppliers to integrate into global supply chains, targeting high-value semiconductor activities -- positioning Malaysia as a key player in the international market. Last year, Malaysia secured RM120.5 billion of manufacturing investments, with RM55.8 billion dedicated to the electrical and electronics (E&E) sector, creating 88,000 new high-skilled jobs that signal robust growth in the technology sector. MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the success in attracting investments demonstrates global confidence in Malaysia's semiconductor ecosystem. 'This isn't just about numbers – it's about building a sustainable future. Our National Semiconductor Strategy (NSS) is transforming Malaysia into a comprehensive semiconductor hub, from design and manufacturing to testing and packaging. 'We're seeing interest from global players who recognise our unique value proposition, a skilled workforce, robust infrastructure, and unwavering government support,' he said in a statement today. Additionally, Sikh Shamsul said MIDA's Supply Chain Programme and Handshake Session are prime examples of how Malaysia facilitate meaningful connections and drives industry growth. At the Supply Change Programme, Malaysian participants are offered valuable knowledge about global standards and integration opportunities, while the Handshake Session facilitates direct discussions between international leaders and local stakeholders. The engagement with industry leaders at SEMICON SEA 2025 is part of the national push under the NSS, which is the strategic roadmap to advance critical segments of the semiconductor value chain, including chip design, wafer fabrication, advanced packaging and speciality chemicals. The NSS reflects Malaysia's ambition to transition from a traditional manufacturing base into a regional hub for innovation, co-creation, and semiconductor excellence. SEMICON SEA 2025 runs from May 20 to 22, 2025, at the Sands Expo and Convention Centre, Singapore, under the theme 'Stronger Together – Collaborating to Navigate Uncertainties and Fostering Resilience'.
The Sun
21-05-2025
- Business
- The Sun
MIDA unveils programmes to strengthen semiconductor sector
KUALA LUMPUR: Malaysia Investment Development Authority (MIDA) introduced two strategic programmes at SEMICON South East Asia (SEA) 2025 to accelerate industry growth and foster international partnerships. According to MIDA, the two strategic programmes, namely the Supply Chain Programme and Handshake Session, emerged as cornerstone events, including participation from industry giants such as Micron Technology Inc., ASML Holding NV and Ferrotec Holdings Corporation. It said the sessions created direct pathways for Malaysian suppliers to integrate into global supply chains, targeting high-value semiconductor activities -- positioning Malaysia as a key player in the international market. Last year, Malaysia secured RM120.5 billion of manufacturing investments, with RM55.8 billion dedicated to the electrical and electronics (E&E) sector, creating 88,000 new high-skilled jobs that signal robust growth in the technology sector. MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the success in attracting investments demonstrates global confidence in Malaysia's semiconductor ecosystem. 'This isn't just about numbers – it's about building a sustainable future. Our National Semiconductor Strategy (NSS) is transforming Malaysia into a comprehensive semiconductor hub, from design and manufacturing to testing and packaging. 'We're seeing interest from global players who recognise our unique value proposition, a skilled workforce, robust infrastructure, and unwavering government support,' he said in a statement today. Additionally, Sikh Shamsul said MIDA's Supply Chain Programme and Handshake Session are prime examples of how Malaysia facilitate meaningful connections and drives industry growth. At the Supply Change Programme, Malaysian participants are offered valuable knowledge about global standards and integration opportunities, while the Handshake Session facilitates direct discussions between international leaders and local stakeholders. The engagement with industry leaders at SEMICON SEA 2025 is part of the national push under the NSS, which is the strategic roadmap to advance critical segments of the semiconductor value chain, including chip design, wafer fabrication, advanced packaging and speciality chemicals. The NSS reflects Malaysia's ambition to transition from a traditional manufacturing base into a regional hub for innovation, co-creation, and semiconductor excellence. SEMICON SEA 2025 runs from May 20 to 22, 2025, at the Sands Expo and Convention Centre, Singapore, under the theme 'Stronger Together – Collaborating to Navigate Uncertainties and Fostering Resilience'.
Bloomberg
03-04-2025
- Business
- Bloomberg
S&P 500 Tumbles as Tariff War Ignites Growth Fears
US stocks tumbled Thursday, sending the S&P 500 Index back into correction territory to erase nearly $2 trillion in value as President Donald Trump's drastic new trade tariffs ignited widespread recession fears and left investors seeking out safe-haven bonds and the yen. The American equities benchmark plunged over 3% — following global markets sharply lower from Tokyo to London — and putting it on course for its biggest drop since September 2022. The Nasdaq 100 Index sank nearly 4%, driven by Apple Inc. 's 8.2% loss, the biggest laggard among the Magnificent Seven stocks. Stocks tied to the economy's health fell, with Nvidia Corp., Micron Technology Inc. and Dell Technologies Inc. all trading lower. Automakers General Motors Co. and Ford Motor Co. each fell while Nike Inc. dropped 11%.
