Micron Drops 7% After Forecast Fails to Meet Lofty Expectations

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Micron Drops 7% After Forecast Fails to Meet Lofty Expectations

Bloomberg06-27

(Bloomberg) -- Micron Technology Inc., the largest US maker of computer memory chips, declined in late trading after its forecast failed to meet the sky-high expectations of some investors. Fiscal ...

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Kencom
·06-27
It is just a temporary dip after profit taking. With the chips control act, Micron will gain its advantage & to move to the next leap in AI. It will goes up again. Similar to NVIDIA
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicron Drops 7% After Forecast Fails to Meet Lofty Expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-27 06:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/micron-drops-forecast-fails-meet-202226173.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Micron Technology Inc., the largest US maker of computer memory chips, declined in late trading after its forecast failed to meet the sky-high expectations of some investors. Fiscal ...</p>\n\n<a href=\"https://finance.yahoo.com/news/micron-drops-forecast-fails-meet-202226173.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE0002270589.USD","symbol_name":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","start_time":0,"source_url":"https://finance.yahoo.com/news/micron-drops-forecast-fails-meet-202226173.html","article_id":"2446441923","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2446441923","pubTimestamp":1719442670,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":" -- Micron Technology Inc., the largest US maker of computer memory chips, declined in late trading after its forecast failed to meet the sky-high expectations of some investors.YouTuberDr Disrespect Was Allegedly Kicked Off Twitch for MessagingMinor. Supreme Court Poised to Allow Emergency Abortions in Idaho. Volkswagen Invests $5 Billion in EV Startup Rivian to Form Joint Venture. FedEx Stokes Investors With Hint of a Freight Deal. Nvidia Rout Takes Breather as Traders Scour Charts for Support. Though Micron is getting a boost from the AI computing boom, demand is still sluggish in its traditional markets, such as personal computers and smartphones. Those areas are only beginning to recover from a historic slump last year.The shares fell about 8% in extended trading. 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While the average analyst estimate was $7.58 billion, some projections were above $8 billion. Profit will be about $1.08 a share, minus certain items, versus a projection of $1.02.Though Micron is getting a boost from the AI computing boom, demand is still sluggish in its traditional markets, such as personal computers and smartphones. Those areas are only beginning to recover from a historic slump last year.The shares fell about 7% in extended trading. Micron had rallied 67% this year before the close, lifted by investor expectations that it will be one of the main beneficiaries of AI spending.In the third quarter, which ended May 30, Micron’s revenue rose 82% to $6.81 billion. The Boise, Idaho-based company reported a profit of 62 cents a share, excluding certain items. That compares with estimated sales of $6.67 billion and a projected profit of 50 cents a share.In a slide presentation, the company said that PC unit volumes remain on track to increase by a percentage in the low single digits in calendar 2024. Smartphone units will gain by a low- to mid-single-digit range. The company expects AI features to help spur demand for phones and PCs heading into 2025.Chief Executive Officer Sanjay Mehrotra has promised that 2024 will mark a rebound for the industry, and that 2025 will see record sales levels. AI will drive demand for expensive chips that are more difficult to make and use an outsized portion of production resources. That should reduce the risk of future inventory gluts — a longtime bane of the memory industry.Micron sells a vital component of AI hardware — high-bandwidth memory — giving it a boost from the surge in AI spending. The company’s parts work with processors from Nvidia Corp., which has become the world’s most valuable chipmaker thanks to insatiable demand for its products. The memory can serve up information more quickly, helping computing systems develop and run AI models.AI models are created by bombarding software with information. The process can involve trillions of parameters and is highly reliant on memory semiconductors. In order to avoid bottlenecks and keep expensive processors working flat out, Micron and its competitors have developed chips that communicate with other components much faster than traditional memory.Micron competes with South Korea’s Samsung Electronics Co. and SK Hynix Inc. in selling chips that provide short-term memory in computers and phones. They also makes flash memory, which handles longer-term storage in those devices.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":321190572417304,"gmtCreate":1719446191915,"gmtModify":1719446197156,"author":{"id":"4088748055325860","authorId":"4088748055325860","name":"Kencom","avatar":"https://community-static.tradeup.com/news/bcaa9548fb78e0409a2827c590935dab","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"4088748055325860","authorIdStr":"4088748055325860"},"htmlText":"It is just a temporary dip after profit taking. With the chips control act, Micron will gain its advantage &amp; to move to the next leap in AI. It will goes up again. Similar to NVIDIA&nbsp;","listText":"It is just a temporary dip after profit taking. With the chips control act, Micron will gain its advantage &amp; to move to the next leap in AI. It will goes up again. Similar to NVIDIA&nbsp;","text":"It is just a temporary dip after profit taking. With the chips control act, Micron will gain its advantage & to move to the next leap in AI. It will goes up again. Similar to NVIDIA","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/321190572417304","repostId":2446441923,"repostType":2,"repost":{"id":"2446441923","kind":"highlight","pubTimestamp":1719442670,"share":"https://ttm.financial/m/news/2446441923?lang=&edition=fundamental","pubTime":"2024-06-27 06:57","market":"us","language":"en","title":"Micron Drops 7% After Forecast Fails to Meet Lofty Expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=2446441923","media":"Bloomberg","summary":" -- Micron Technology Inc., the largest US maker of computer memory chips, declined in late trading after its forecast failed to meet the sky-high expectations of some investors.YouTuberDr Disrespect Was Allegedly Kicked Off Twitch for MessagingMinor. Supreme Court Poised to Allow Emergency Abortions in Idaho. Volkswagen Invests $5 Billion in EV Startup Rivian to Form Joint Venture. FedEx Stokes Investors With Hint of a Freight Deal. Nvidia Rout Takes Breather as Traders Scour Charts for Support. Though Micron is getting a boost from the AI computing boom, demand is still sluggish in its traditional markets, such as personal computers and smartphones. Those areas are only beginning to recover from a historic slump last year.The shares fell about 8% in extended trading. Micron had rallied 67% this year before the close, lifted by investor expectations that it will be one of the main beneficiaries of AI spending.Micron competes with South Korea’s Samsung Electronics","content":"<html><head></head><body><p>(Bloomberg) -- Micron Technology Inc., the largest US maker of computer memory chips, declined in late trading after its forecast failed to meet the sky-high expectations of some investors. </p><p>Fiscal fourth-quarter sales will be $7.4 billion to $7.8 billion, the company said in a statement Wednesday. While the average analyst estimate was $7.58 billion, some projections were above $8 billion. Profit will be about $1.08 a share, minus certain items, versus a projection of $1.02.</p><p>Though Micron is getting a boost from the AI computing boom, demand is still sluggish in its traditional markets, such as personal computers and smartphones. Those areas are only beginning to recover from a historic slump last year.</p><p>The shares fell about 7% in extended trading. Micron had rallied 67% this year before the close, lifted by investor expectations that it will be one of the main beneficiaries of AI spending.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0b3730969e16ccaecc4271c503c5cc10\" tg-width=\"845\" tg-height=\"837\"/></p><p>In the third quarter, which ended May 30, Micron’s revenue rose 82% to $6.81 billion. The Boise, Idaho-based company reported a profit of 62 cents a share, excluding certain items. That compares with estimated sales of $6.67 billion and a projected profit of 50 cents a share.</p><p>In a slide presentation, the company said that PC unit volumes remain on track to increase by a percentage in the low single digits in calendar 2024. Smartphone units will gain by a low- to mid-single-digit range. The company expects AI features to help spur demand for phones and PCs heading into 2025.</p><p>Chief Executive Officer Sanjay Mehrotra has promised that 2024 will mark a rebound for the industry, and that 2025 will see record sales levels. AI will drive demand for expensive chips that are more difficult to make and use an outsized portion of production resources. That should reduce the risk of future inventory gluts — a longtime bane of the memory industry.</p><p>Micron sells a vital component of AI hardware — high-bandwidth memory — giving it a boost from the surge in AI spending. The company’s parts work with processors from Nvidia Corp., which has become the world’s most valuable chipmaker thanks to insatiable demand for its products. The memory can serve up information more quickly, helping computing systems develop and run AI models.</p><p>AI models are created by bombarding software with information. The process can involve trillions of parameters and is highly reliant on memory semiconductors. In order to avoid bottlenecks and keep expensive processors working flat out, Micron and its competitors have developed chips that communicate with other components much faster than traditional memory.</p><p>Micron competes with South Korea’s Samsung Electronics Co. and SK Hynix Inc. in selling chips that provide short-term memory in computers and phones. They also makes flash memory, which handles longer-term storage in those devices.</p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Micron Drops 7% After Forecast Fails to Meet Lofty Expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicron Drops 7% After Forecast Fails to Meet Lofty Expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-27 06:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/micron-drops-forecast-fails-meet-202226173.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Micron Technology Inc., the largest US maker of computer memory chips, declined in late trading after its forecast failed to meet the sky-high expectations of some investors. Fiscal ...</p>\n\n<a href=\"https://finance.yahoo.com/news/micron-drops-forecast-fails-meet-202226173.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4512":"苹果概念","BK4532":"文艺复兴科技持仓","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","BK4554":"元宇宙及AR概念","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4553":"喜马拉雅资本持仓","BK4585":"ETF&股票定投概念","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","BK4575":"芯片概念","BK4566":"资本集团","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0056508442.USD":"贝莱德世界科技基金A2","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4527":"明星科技股","BK4579":"人工智能","BK4588":"碎股","BK4141":"半导体产品","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H"},"source_url":"https://finance.yahoo.com/news/micron-drops-forecast-fails-meet-202226173.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2446441923","content_text":"(Bloomberg) -- Micron Technology Inc., the largest US maker of computer memory chips, declined in late trading after its forecast failed to meet the sky-high expectations of some investors. Fiscal fourth-quarter sales will be $7.4 billion to $7.8 billion, the company said in a statement Wednesday. While the average analyst estimate was $7.58 billion, some projections were above $8 billion. Profit will be about $1.08 a share, minus certain items, versus a projection of $1.02.Though Micron is getting a boost from the AI computing boom, demand is still sluggish in its traditional markets, such as personal computers and smartphones. Those areas are only beginning to recover from a historic slump last year.The shares fell about 7% in extended trading. Micron had rallied 67% this year before the close, lifted by investor expectations that it will be one of the main beneficiaries of AI spending.In the third quarter, which ended May 30, Micron’s revenue rose 82% to $6.81 billion. The Boise, Idaho-based company reported a profit of 62 cents a share, excluding certain items. That compares with estimated sales of $6.67 billion and a projected profit of 50 cents a share.In a slide presentation, the company said that PC unit volumes remain on track to increase by a percentage in the low single digits in calendar 2024. Smartphone units will gain by a low- to mid-single-digit range. The company expects AI features to help spur demand for phones and PCs heading into 2025.Chief Executive Officer Sanjay Mehrotra has promised that 2024 will mark a rebound for the industry, and that 2025 will see record sales levels. AI will drive demand for expensive chips that are more difficult to make and use an outsized portion of production resources. That should reduce the risk of future inventory gluts — a longtime bane of the memory industry.Micron sells a vital component of AI hardware — high-bandwidth memory — giving it a boost from the surge in AI spending. The company’s parts work with processors from Nvidia Corp., which has become the world’s most valuable chipmaker thanks to insatiable demand for its products. The memory can serve up information more quickly, helping computing systems develop and run AI models.AI models are created by bombarding software with information. The process can involve trillions of parameters and is highly reliant on memory semiconductors. In order to avoid bottlenecks and keep expensive processors working flat out, Micron and its competitors have developed chips that communicate with other components much faster than traditional memory.Micron competes with South Korea’s Samsung Electronics Co. and SK Hynix Inc. in selling chips that provide short-term memory in computers and phones. They also makes flash memory, which handles longer-term storage in those devices.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":5,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}