Micron Technology Reports Record Q1 Revenue

Micron Technology reported strong financial results for the first quarter of fiscal 2025, with revenues rising to $8.71 billion, driven by a 40% sequential increase in data center revenue. However, the company’s disappointing earnings forecast for the second quarter, projecting EPS between $1.33 to $1.53 against an analyst consensus of $1.97, triggered a significant sell-off in its stock and impacted global semiconductor stocks, including SK Hynix and Samsung Electronics. Despite the record quarterly revenue and a GAAP net income of $1.87 billion, Micron's outlook has raised concerns among investors and analysts, leading to a 16% decline in its stock price after hours. The anticipated rebound in consumer-oriented markets is expected in the latter half of the fiscal year, yet uncertainties remain regarding the overall semiconductor market's health. Moreover, investment firm Sanford Bernstein lowered its price target for Micron, reflecting skepticism about its growth momentum through 2026. Overall, Micron's mixed performance highlights the volatility in the semiconductor sector amidst fluctuating demand, especially related to AI technologies.