Micron Technology Inc. has issued a disappointing revenue forecast of approximately $7.2 billion for the upcoming fiscal fourth quarter, below analysts' expectations. This comes despite the company reporting strong earnings of $2.59 per share, surpassing estimates, which raised concerns that customers may have over-purchased chips during recent shortages. Following this mixed news, Micron's stock fell more than 8% in after-hours trading as fears about future demand and inventory levels intensified.
“Micron · gave · grim guidance”
“Micron · gave · grim guidance”
“Micron Technology · issued · a subdued revenue outlook”
“Micron Technology · reported · a strong rise in earnings · for its latest quarter”
“Micron · makes · data-storage and memory chips · for computers and smartphones”
“Micron · had enjoyed · a major upswing in sales and profit · during the pandemic”
“Micron Technology Inc. · released · earnings results · third quarter of fiscal 2022”
“Micron Technology Inc. · beat · analysts estimates · both its top and bottom lines”
“Micron Technology Inc. · reported · adjusted earnings per share · $2.59”
“Micron Technology Inc. · reported · revenue · $8.64 billion”
“Micron Technology Inc. · reported · earnings per share · $1.88”
“Micron Technology Inc. · reported · operating cash flow · $3.84 billion”
