Reported 3 days ago
Micron Technology's stock dropped over 13% in after-hours trading following a revenue forecast that fell short of analysts' expectations. The company projected fiscal Q2 revenue of $7.9 billion, below the consensus estimate of $8.93 billion, and its anticipated earnings per share also did not meet estimates. Although Micron reported strong profits in its fiscal Q1, it faces weaker consumer-oriented markets in the near term, with hopes for recovery in the latter half of the fiscal year.
Source: YAHOO