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Micron Earnings Edge Views, but the income light in the first quarter

Micron Technology Micron Technology (MU) late Tuesday, Wall Street focused on revenue in its first quarter, but sales missed views and the company offered guidance far below forecasts. The Micron Performance Report sent the company's shares lower in expanded trading. X Boise, Idaho-based companies received an adjusted $ 2.97 per share on a turnover of $ 791 billion in the quarter on November 29. Analysts expected Micron profit of $ 2.96 a share of a turnover of $ 8.02 billion, according to Thomson Reuters. Micron's earnings per share increased by 21% compared to the year before sales increased by 16%. For the current quarter, Micron expects $ 1.75 per share for a sale of $ 6 billion. It is based on the midpoint of its guidance. Wall Street was modeling adjusted earnings per share of $ 2.44 on a turnover of 7.34 billion dollars. Micron warned of "weaker market conditions" for DRAM and Nand chips. The Micron share tumbled 7.4% in the aftermarket trading on the stock market today. During the regular session on Tuesday, it increased by 0.7% to 34.11. "Weak Demand Demand Dynamics" "Micron reported strong profitability in the first quarter, with double-digit revenue growth throughout our major markets and solid business performance," said Chief Executive Sanjay Mehrotra in a press release. Han add: "Despite the weak business's supply and demand dynamics in the 2019 calendar, Micron is well positioned to deliver good profitability throughout the year. We are still keen on the long-term secular growth trends that…

Micron Technology Micron Technology (MU) late Tuesday, Wall Street focused on revenue in its first quarter, but sales missed views and the company offered guidance far below forecasts. The Micron Performance Report sent the company’s shares lower in expanded trading.




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Boise, Idaho-based companies received an adjusted $ 2.97 per share on a turnover of $ 791 billion in the quarter on November 29. Analysts expected Micron profit of $ 2.96 a share of a turnover of $ 8.02 billion, according to Thomson Reuters. Micron’s earnings per share increased by 21% compared to the year before sales increased by 16%.

For the current quarter, Micron expects $ 1.75 per share for a sale of $ 6 billion. It is based on the midpoint of its guidance. Wall Street was modeling adjusted earnings per share of $ 2.44 on a turnover of 7.34 billion dollars. Micron warned of “weaker market conditions” for DRAM and Nand chips.

The Micron share tumbled 7.4% in the aftermarket trading on the stock market today. During the regular session on Tuesday, it increased by 0.7% to 34.11.

“Weak Demand Demand Dynamics”

“Micron reported strong profitability in the first quarter, with double-digit revenue growth throughout our major markets and solid business performance,” said Chief Executive Sanjay Mehrotra in a press release.

Han add: “Despite the weak business’s supply and demand dynamics in the 2019 calendar, Micron is well positioned to deliver good profitability throughout the year. We are still keen on the long-term secular growth trends that drive the memory and storage industry. “

Mehrotra said he expects that the weak demand for the DRAM market will continue in the first half of 2019. DRAM accounted for 68% of Micron’s revenue in the first quarter.

At the same time, the market for Nand Flash Memory Chip

“We are entering a period of weaker market conditions,” said Mehrotra. Micron lowers its production plans in response to the changing demand structure, he said.

Micron Stock Price-Target Cut

CFRA Research sent Monday to its 12 month price target on the Micron share. CFRA lowered its target to 40 from 53 and repeated its rating.

“We are worried about the recession that takes place in the memory space, as price cuts are likely to be pronounced in the spring our “said CFRA analyst Angelo Zino

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