Since June, Micron stock has been soaring. However, the stock is now taking a hit after Micron Technology Inc (NASDAQ:MU) released its Q4 earnings report. The guidance, in particular, indicates that the down cycle is far from over.
Disappointing GuidanceIts Q4 results beat Wall Street estimates, but the earnings guidance was disappointing. The company reported an increase in shipments of both NAND and DRAM chips in the quarter, although average selling prices appeared to continue plunging.
The company beat analysts’ earnings estimates of $0.48 per share on revenue of $4.52 billion to report ...
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