WDC - After Nvidea Micron sees weak Q4 sales due to macroeconomic factors and supply chain constraints

• Due to macroeconomic factors and supply chain constraints, Micron ( NASDAQ: MU ) expect a challenging market environment in FQ4 22 and FQ1 23.
• The company expects FQ4 revenue to come in at or below the low end of the revenue guidance range of $6.8B and $7.6B provided in June 30 earnings call .
• In FQ1, bit shipments are now expected to decline sequentially, and the company expects significant sequential declines in revenue and margins.
• Free cash flow to be negative in FQ1.
• The company sees FY23 total capex to be down meaningfully vs. FY22.
• MU stock down 4% PM.
• Nvidia ( NVDA ) down 3% PM after after preannouncing weak Q2 sales.
• Western Digital ( WDC ) reported weak Q2 results and guidance on Friday.

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