Micron stock tumbles on muted sales forecast

Memory chip manufacturer Micron Technology gave a low revenue outlook, irritating investors even as it reported strong earnings growth in its most recent quarter.

“Recently, the demand environment in the industry has weakened, and we are taking action to correct our supply growth” in the coming quarters, CEO Sanjay Mehrotra said in a statement, adding that he remains confident about the long-term demand for memory and storage.

https://www.wsj.com/articles/micron-shares-slump-on-muted-sales-forecast-11656621108?mod=pls_whats_news_us_business_f Micron stock tumbles on muted sales forecast

Luke Plunkett

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