Micron Technology's revenue outlook falls short of analysts' expectations, causing its stock price to plummet by approximately 18% after market hours
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Southern Finance and Economics, December 19 (Xinhua) - According to Interface News, Micron Technology disclosed in its after hours financial report on December 18 that due to weak demand for smartphones and personal computers, it is expected to generate approximately $7.9 billion in revenue for this quarter, while analysts' average estimate is $8.99 billion. The company expects earnings per share after excluding certain items to not exceed $1.53, far below the analyst estimate of $1.92. Its stock price plummeted by about 18% in after hours trading.
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Disclaimer: The views expressed in this article are those of the author only, this article does not represent the position of CandyLake.com, and does not constitute advice, please treat with caution.
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