Micron Technology Inc's shares fell after the company announced that its AI revenue would more than double this year but still fell short of investors' high expectations. The company projected a 120% increase in AI revenue for fiscal 2023, ending in August, but its forecast of $3 billion for fiscal 2024 did not impress Wall Street. This led to a 4.7% drop in Micron’s shares to $65.10 on the Nasdaq. Analysts noted that Micron's growth outlook didn’t meet investors' lofty expectations, and some remain cautious about the near-term outlook for Micron's AI business. 

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Micron Technology Inc's shares fell after the company announced that its AI revenue would more than double this year but still fell short of investors' high expectations. The company projected a 120% increase in AI revenue for fiscal 2023, ending in August, but its forecast of $3 billion for fiscal 2024 did not impress Wall Street. This led to a 4.7% drop in Micron’s shares to $65.10 on the Nasdaq. Analysts noted that Micron's growth outlook didn’t meet investors' lofty expectations, and some remain cautious about the near-term outlook for Micron's AI business. 

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https://wkzo.com/2024/06/26/micron-technology-beats-estimates-for-third-quarter-revenue-on-ai-chip-demand/

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