Reported 3 days ago
Micron Technology's second-quarter forecast has disappointed investors, predicting lower revenue and profit than expected due to declining prices of memory chips, which has resulted in a 13.6% drop in its stock during extended trading. The company, heavily impacted by weak consumer demand and a surplus in DRAM chips, anticipates earnings of $1.43 per share and $7.90 billion in revenue, both below analyst estimates, as the PC and smartphone markets struggle, especially in China.
Source: YAHOO