Micron forecasts first-quarter revenue above estimates

(Reuters) -Micron Technology forecast first-quarter revenue above market estimates on Tuesday, betting on booming demand for artificial intelligence hardware to boost sales of its advanced memory chips.

The memory chip maker forecast first-quarter sales of $12.50 billion, plus or minus $300 million, compared with the analysts’ average estimate of $11.94 billion, according to data compiled by LSEG.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Alan Barona)