Micron beat fourth-quarter estimates on both revenue and earnings, the chipmaker reported in the United States.

The article ties the results to a worldwide memory shortage and demand that outran manufacturing supply.

It says customers are competing for limited allocations, which has supported pricing for memory producers.

Micron also issued strong guidance for the next fiscal quarter, according to the article and its cited coverage.

Demand for advanced and enterprise memory chips is described as running ahead of earlier projections.

Device makers are adjusting purchasing plans and seeking longer supply agreements because of the shortage.

The article says supply tightness is expected to last through the coming quarter.

Stakeholders are watching production and inventory as Micron lays out capacity plans for the next fiscal year.

Read the full story on Micron’s fourth-quarter beat, its outlook, and the memory shortage.