Reported 1 day ago
Micron Technology Inc. faced an 8% drop in shares following a disappointing margin forecast, overshadowing its positive quarterly revenue outlook attributed to AI semiconductor demand. Despite being a key supplier of high-bandwidth memory for AI, the company's projected gross margin fell short of expectations due to declining prices in consumer memory chips and an oversupplied NAND Flash market. Although revenue estimates remain high due to AI demand, the challenging industry environment is impacting profitability.
Source: YAHOO