Micron inventory Slides on Gloomy Outlook as reminiscence Demand Softens

Micron know-how

shares are beneath renewed strain after the reminiscence chip agency posted weak outcomes and supplied softer-than-anticipated monetary forecasts.

The anemic quarterly outcomes, reported after the shut of buying and promoting on Thursday, had been no exact shock. Micron had ratcheted down expectations amid weak demand from private-laptop computer producers and completely different clients, reflecting softening shopper spending. however even with the market braced for dangerous numbers, the severity of the anticipated downturn flagged in administration’s earnings steerage nonetheless managed to shock the highway.