Reported 2 days ago
Micron Technology's stock plummeted over 16% after the company reported a significant drop in expected revenue for the current quarter, estimating around $7.9 billion due to decreased demand in consumer markets and a slowdown in the PC replacement cycle. Analysts from Bank of America downgraded their rating on the stock and reduced their price target, while Citi and Wedbush offered mixed views, with Citi lowering earnings forecasts for 2025 and 2026 but maintaining a buy rating.
Source: YAHOO