Reported 2 days ago
Micron Technology's shares dropped significantly after a quarterly earnings report that revealed a weak near-term outlook, prompting Wall Street analysts to adjust their price targets. Despite a solid revenue performance driven by high-bandwidth memory chips essential for AI, the company's forecast of $7.9 billion in current-quarter revenue fell short of expectations. Analysts remain optimistic about a potential recovery in 2025, though several have lowered their price targets on the stock.
Source: YAHOO