WEBVTT - Closing Bell: Micron Forecast Tops Estimates 

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<v Speaker 1>Bloomberg Audio Studios.

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<v Speaker 2>Podcasts.

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<v Speaker 3>Radio. News.

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<v Speaker 2>This is the closing bell on the Stock Movers Report.

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<v Speaker 2>The companies making moves at the close of U.S. trading

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<v Speaker 2>with Carol Master, Tim Stenevek, Romain Bostic, and Katie Greifeld.

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<v Speaker 1>Micron earnings crossing the wire right now. Let's get right

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<v Speaker 1>to it. Expectations were high, and on the surface, it

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<v Speaker 1>does appear... that they met those expectations. Adjusted revenue in

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<v Speaker 1>the fiscal fourth quarter, $ 54. 23 billion. The street was looking

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<v Speaker 1>for roughly about $ 52 billion. We should point out on

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<v Speaker 1>a year over year basis, that's growth.

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<v Speaker 4>We'll be right back.

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<v Speaker 1>Of $ 37. 15 to $ 39.

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<v Speaker 5>15.

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<v Speaker 1>The low end of that range is above the average

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<v Speaker 1>of analyst estimates for 36.02. And finally, guys, the revenue

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<v Speaker 1>figure for the current quarter, the company guiding the $ 60

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<v Speaker 1>to $ 63 billion in revenue, the street estimate was for

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<v Speaker 1>$ 57 billion. The knee-jerk reaction, though, is basically the shares.

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<v Speaker 1>We'll call it unchanged.

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<v Speaker 4>There you go.

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<v Speaker 5>Romain, I'm going to stick with those revenues for this

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<v Speaker 5>Boise-based behemoth here and kind of look under the hood

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<v Speaker 5>a little bit here. And you really see beats across

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<v Speaker 5>the board when you look at cloud memory. That beats

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<v Speaker 5>$ 16. 28 billion. The estimate $ 15 billion automotive and embedded revenues,

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<v Speaker 5>6.82 as well. Look, we're talking about this, of course,

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<v Speaker 5>in the context of AI and that buildup, but this

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<v Speaker 5>is very much a company that is so widely involved

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<v Speaker 5>in so many aspects of the broader tech space.

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<v Speaker 4>I've been looking at SanDisk, which was up as much

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<v Speaker 4>as 14%. It's down about half a percent today. But

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<v Speaker 4>when you look at SanDisk and Micron, overall they've outpaced

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<v Speaker 4>NVIDIA this year. And part of that I think you're

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<v Speaker 4>seeing not only from the numbers that David was just mentioning,

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<v Speaker 4>but when you look at a regulatory infrastructure, obviously you're

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<v Speaker 4>not seeing those fears increase. evaluate through the market because

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<v Speaker 4>you had this big press conference at the White House

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<v Speaker 4>this week. You had all the AI leaders talking about it.

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<v Speaker 4>Unclear if that was going to hit all these earnings numbers,

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<v Speaker 4>but obviously it's too early. But it's good news for

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<v Speaker 4>them so far, and they've really been outpacing some competitors

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<v Speaker 4>so far.

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<v Speaker 3>And we're getting a little bit more details about these earnings.

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<v Speaker 3>One number sticking out to me, fourth quarter core data

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<v Speaker 3>center revenue, a big beat here, $ 18 billion versus estimates

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<v Speaker 3>of just 11.3. Of course, we know the data center

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<v Speaker 3>trade is alive and well, and we're seeing that in

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<v Speaker 3>these results. Another one, fourth quarter adjusted operating income also

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<v Speaker 3>beating estimates remain.

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<v Speaker 1>Yeah, we should point out that when you look at

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<v Speaker 1>sort of the unchanged nature of these shares, remember they

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<v Speaker 1>had rallied about 40% off of those lows from the

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<v Speaker 1>summer and still up something like close to 300% on

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<v Speaker 1>a year-to-date basis. And a big part of the reason, guys,

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<v Speaker 1>is to a certain extent, the numbers from last quarter,

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<v Speaker 1>the numbers for the current quarter are probably a little

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<v Speaker 1>bit less important than what the company says on the

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<v Speaker 1>conference call about the long-term picture, looking into 2027 calendar year, 2028,

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<v Speaker 1>and even beyond. Remember, when we heard from Sandisk, we

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<v Speaker 1>heard from NVIDIA, we heard from some of the other

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<v Speaker 1>chip makers, it was really about that multi-year forecast and

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<v Speaker 1>whether that runway for AI spending would actually continue.

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<v Speaker 5>Looking at fourth quarter cash flow from operations, $ 43. 97 billion.

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<v Speaker 5>And we were talking just a few moments ago with

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<v Speaker 5>the CFO of HPE, just talking about sort of how

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<v Speaker 5>emblematic this is, a company that has been around now

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<v Speaker 5>for many years, kind of transitioning into a very AI-focused,

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<v Speaker 5>AI network-focused company. Again, we're seeing this transition taking place

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<v Speaker 5>really across the spectrum, guys.

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