Micron Stock Cut to Hold - Memory Chips Face 'Tough Quarters' [TheStreet.com]
Micron Technology, Inc. (MU)
Last micron technology, inc. earnings: 3/25 04:01 pm
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Source: TheStreet.com
Micron Technology(MUGet ReportMemory-chip makers face “tough quarters ahead,” he wrote in a commentary cited by Bloomberg.Micron recently traded at $46.37, down 4.4%. The stock has slid 14% year to date. Meanwhile, the Nasdaq Composite index has jumped 24%."Extensive checks" of the supply chain after recent "lackluster guidance" from Western DigitalWDCInventory buildups for cloud-data-center customers “appear more acute than we originally anticipated,” Ho said, according to Bloomberg.In other important areas demand is weakening, too, he said. It has “dropped off sharply since mid-June,” and “there remains significant macro uncertainty related to the covid pandemic,” Ho said.He has lowered his Micron estimates to account for lower prices and expects analysts’ estimates to fall "sharply" from present levels.In late June, Micron said inventories among some of its clients were high. But the company suggested the buildups were among mobile and automotive memory buyers, rather than cloud cl
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MU
Earnings
- 3/20/24 - Beat
MU
Sec Filings
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- 4/17/24 - Form 4
- MU's page on the SEC website