According to a prominent analyst, Micron’s miss on Q3 earnings and guidance for the second quarter of next year might signal that the AI PC and smartphone supercycle isn’t happening. Most of the company's woes stem from a weaker market than expected for memory products for PCs and smartphones, and multiple reports from other market analysis firms have pointed out that the AI PC 'revolution' simply isn't happening. At least not yet.
In its latest financial report, the American memory manufacturer Micron reported Q3 revenue of $8.709 billion, somewhat below the $8.721 figure the market anticipated. Even worse, Micron's guidance for the second quarter of 2025 was $7.9 billion instead of the $8.98 billion that Wall Street expected. At the time of writing, its stock is down over 16%.
