Micron Technology Expects Challenging Market Environment in FQ4 22 and FQ1 23
August 10, 2022
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Micron Technology ($NASDAQ:MU) expects fourth quarter revenue to come in at or below the low end of the revenue guidance range of $6.8 billion and $7.6 billion provided in June 30 earnings call.
However, it is unclear how long the challenges will last. In the long term, Micron’s market and earnings may rebound as the company continues to innovate and adapt to market conditions.
Micron Technology, the world’s third-largest maker of computer memory chips, also warned of a challenging environment in the fourth quarter and first quarter. The company’s shares opened at $59.0 on Tuesday and closed at $59.2.
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The company announced that it expects DRAM bit growth to be in the mid-to-high teens in calendar 2022 and NAND bit growth to be in the low double digits. Micron also said that it expects industry DRAM bit growth to be in the high teens in calendar 2022. Analysts believe that Micron’s guidance is conservative and that the company is well-positioned to benefit from the strong demand for memory chips.
However, the stock price decline indicates that investors are concerned about the near-term challenges that the company faces.
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