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Micron Shares Slump on Muted Sales Forecast

Memory-chip maker Micron Technology issued a subdued income outlook, spooking buyers even because it reported a powerful rise in earnings for its newest quarter.

“Recently, the industry demand environment has weakened, and we are taking action to moderate our supply growth” in coming quarters, Chief Executive Sanjay Mehrotra mentioned in an announcement, including that he was nonetheless assured about long-term demand for reminiscence and storage.

Related Topics:Business C&E Exclusion Filter C&E Industry News Filter Computers Computers/Consumer Electronics consumer electronics Consumer Goods Content Types corporate Corporate/Industrial News Dell Dell Technologies Cl C disruptions Earnings Earnings Projections Factiva Filters Financial Performance Forecast Furniture HP HPQ Industrial Electronics Industrial Goods industrial news INTC Intel Micron Micron Technology Microsoft MSFT MU Muted NVDA NVIDIA Sales Sales Figures Sanjay Mehrotra Semiconductors share price movement Share Price Movement/Disruptions Shares Slump SYND Technology Wooden Furniture WSJ-PRO-WSJ.com

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