Micron tumbles after issuing in-line expectations despite strong Q3 results

- Micron Technology (NASDAQ:MU) shares dropped 6.5% after in-line guidance overshadowed strong Q3 earnings - Micron earned $0.62 per share on $6.81B in revenue, with cash flow from operations below estimate - Analysts expected $0.53 per share on $6.67B in revenue, with AI demand driving sales growth - Micron CEO expects substantial revenue records in fiscal 2025 due to AI-driven opportunities - Next quarter, Micron expects earnings of $1-$1.16 per share on $7.6B in revenue, with adjusted gross margins between 33.5%-35.5% and analysts had different expectations - Micron will host a conference call to discuss the results at 5:30 p.m. EST