Micron shares dropped 3.17% in premarket trading.
Micron Technology Inc projected fourth-quarter revenue and profit below market estimates on Thursday, a sign that geopolitical turmoil and weakness in consumer spending would weigh on demand for its memory chips.
The weak outlook could raise broader concern the chip market is heading into a down cycle after a recent shortage.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments