Reported 12 days ago
Micron Technology saw its shares drop after the company reported a revenue forecast of $7.9 billion for the upcoming fiscal quarter, missing analysts' estimates by around $1 billion due to sluggish demand for smartphones and PCs. Despite strong orders for components used in artificial intelligence, the overall market remains weak, with Micron’s mobile unit experiencing a 19% drop in sales. The company anticipates that customer inventory levels will improve by spring, predicting a growth in the PC market in 2025.
Source: YAHOO