4 Key Takeaways From Micron’s Earnings Call [Video]

After Micron Technology (MU) reported fiscal third-quarter profit that missed analysts’ estimates and offered soft revenue guidance, Micron executives joined the company’s earnings call Wednesday, where they discussed their expectations for record revenue in 2024 and 2025, Micron’s position to gain in the artificial intelligence (AI) era, and more.

Micron CEO Sanjay Mehrotra said Micron’s “mix of data center revenue is on track to reach record levels in fiscal 2024 and to grow significantly from there in fiscal 2025.”

“Robust AI-driven demand for data center products is causing tightness on our leading-edge nodes,” Mehrotra reported, adding that the company expects “continued price increases throughout calendar 2024 despite only steady near-term demand in PCs and smartphones.”

As a computer memory and data storage solution maker, Micron is positioned to gain given AI technology data centers’ memory and storage needs.

“We are in the early innings of a multi-year race to enable artificial general intelligence,” Mehrotra …