Micron CEO: AI Demand Keeps Memory Supply Tight Through 2027
MU has more than doubled off its 52-week low of $113.46.
Summary
CEO Sanjay Mehrotra says AI is driving memory demand and supply will remain constrained, with 2027 expected to be even tighter than 2026. Micron has signed more strategic customer agreements since June and plans to invest $250 billion in U.S. manufacturing through 2035. The company generated $25 billion in operating cash flow last quarter and expects free cash flow to rise this quarter. Buyback restrictions expire in early December, after which excess cash will be returned to shareholders. This follows record Q3 results and a $1 trillion market cap milestone in May.
At the time of this announcement, MU was trading at $966.90 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.1T. The 52-week trading range was $113.46 to $1,255.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Binance News.