2023 there will be a further 3

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handy87
2022-12-30

2023 there will be a further 30% jobs cuts.

Micron Falls As Argus Downgrades, Citing Potential for "Deep Operating Losses"

Micron Technology shares fell more than 1.5% in premarket trading on Friday as Argus Research downgr

Micron Falls As Argus Downgrades, Citing Potential for "Deep Operating Losses"

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It expects revenue to be $3.8B, plus or minus $200M, with a quarterly loss of 62 cents per share.</p><p>The company also noted it would cut almost 5,000 workers in the year ahead as it continued to conserve cash amid a weakening global economy.</p><p>Micron (MU) added it is “significantly reducing” capital expenditure for fiscal 2024.</p><p>In a statement, Micron (MU) Chief Executive Sanjay Mehrotra said the company is &#34;taking decisive actions to cut our supply and expenses&#34; and that it expects improvements in customer inventories to improve and enable revenue to start growing in the second half of next year.</p><p>Mehrotra added that he believes Micron (MU) will be able to &#34;deliver strong profitability once we get past this downturn.&#34;</p><p>Micron (MU) added that &#34;over the next few months&#34;, it expects &#34;gradually improving demand trends for memory as customer inventory levels improve further, new CPU platforms are launched, and China&#39;s demand starts to grow as its economy reopens.&#34;</p><p>Investment firm UBS recently named Micron (MU) as one of its top chip stocks for 2023.</p><p>Analysts are largely cautious on Micron (MU). It has a HOLD rating from Seeking Alpha authors, while Wall Street analysts rate it a BUY. Conversely, Seeking Alpha&#39;s quant system, which consistently beats the market, rates MU a HOLD.</p></body></html>","source":"seekingalpha","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 Falls As Argus Downgrades, Citing Potential for \"Deep Operating Losses\"</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; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\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 Falls As Argus Downgrades, Citing Potential for \"Deep Operating Losses\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-12-30 21:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3921255-micron-argus-downgrades-citing-potential-deep-operating-losses><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Micron Technology shares fell more than 1.5% in premarket trading on Friday as Argus Research downgraded the memory chip maker, citing the potential for \"deep operating losses\" in its future.Analyst ...</p>\n\n<a href=\"https://seekingalpha.com/news/3921255-micron-argus-downgrades-citing-potential-deep-operating-losses\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技"},"source_url":"https://seekingalpha.com/news/3921255-micron-argus-downgrades-citing-potential-deep-operating-losses","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1147044640","content_text":"Micron Technology shares fell more than 1.5% in premarket trading on Friday as Argus Research downgraded the memory chip maker, citing the potential for \"deep operating losses\" in its future.Analyst Jim Kelleher, who cut his rating on Micron (MU) to hold from buy, noted the company is likely to see further weakness for memory chips, especially for smartphones, and that weakness is likely to move into other parts of tech, such as data centers.Kelleher added that the weakness is likely to present Micron (MU) with an \"unfavorable environment [that is] likely to persist for multiple quarters.\"Earlier this month, Micron (MU) reported fiscal first-quarter results that were slightly lower-than-expected and issued an exceptionally weak outlook for the second-quarter. It expects revenue to be $3.8B, plus or minus $200M, with a quarterly loss of 62 cents per share.The company also noted it would cut almost 5,000 workers in the year ahead as it continued to conserve cash amid a weakening global economy.Micron (MU) added it is “significantly reducing” capital expenditure for fiscal 2024.In a statement, Micron (MU) Chief Executive Sanjay Mehrotra said the company is \"taking decisive actions to cut our supply and expenses\" and that it expects improvements in customer inventories to improve and enable revenue to start growing in the second half of next year.Mehrotra added that he believes Micron (MU) will be able to \"deliver strong profitability once we get past this downturn.\"Micron (MU) added that \"over the next few months\", it expects \"gradually improving demand trends for memory as customer inventory levels improve further, new CPU platforms are launched, and China's demand starts to grow as its economy reopens.\"Investment firm UBS recently named Micron (MU) as one of its top chip stocks for 2023.Analysts are largely cautious on Micron (MU). 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