Micron Q1| What the Earnings and Layoff Tell Us
@Value_investing：
After the bell on Wednesday, semiconductor giant $Micron Technology(MU)$ released its first quarterly report for fiscal year 2023 ending Dec. 1. Its shares fell nearly 2% after hours after the earnings report and guidance fell short of market expectations.Key figures were very poor: Q1 revenue of $4.085 billion, down 46.9% year-over-year. Quidance for Q2 gross margin of 7.5%, compared to 47.2% a year ago. The company announced the suspension of bonuses and a 10% layoff. Statistically, Micron is having a really bad time. But looking at the stock price performance, the less than 2% after-hours drop seems to be uneventful. How to understand Micron Q1 earnings?Key Figures Q1 revenue of $4.085 billion, down 46.9% y