Micron Technology incorporated Forecasts Strong Revenue Growth for Current Period\n\nMicron Technology incorporated, the largest US maker of memory semiconductors, has announced a positive revenue forecast for the current period, indicating a potential rebound in the market. The company expects its fiscal second-quarter revenue to be between $5.1 billion to $5.5 billion, surpassing the average analyst estimate of $4.99 billion. This optimistic outlook is driven by strong demand for expensive memory used in data centers to develop AI software, as well as a predicted rebound year in 2024 for the industry. The company will wait for prices to improve before increasing chip output.\n\n Facing challenges in the past year, including a slump in smartphone and PC orders, Micron is showing signs of recovery. The company expects PC unit volumes to grow in the low- to mid-single digits in 2024, following two years of declines. Similarly, smartphone demand is also expected to grow modestly in 2024. This recovery is attributed to customers working through excess inventory, which has helped restore the supply-and-demand balance and strengthen pricing.\n\nIn the fiscal first quarter, which ended on November 30, Micron’s revenue rose 16% to $4.73 billion. The company had a loss of 95 cents per share, excluding certain items, which was better than the estimated sales of $4.54 billion and a loss of $1 per share. Micron’s success can be attributed to its strategic initiatives and ability to navigate through industry downturns. The company competes with South Korea’s Samsung Electronics Co. And SK Hynix incorporated in selling memory chips, which provide short-term memory in computers and phones.\n\nMicron Technology incorporated has given a positive revenue forecast for the current period, driven by strong demand for its memory chips and a predicted rebound year in 2024.