U.S. markets open in 8 hours 33 minutes
  • S&P Futures

    4,272.00
    -9.00 (-0.21%)
     
  • Dow Futures

    33,653.00
    -65.00 (-0.19%)
     
  • Nasdaq Futures

    13,545.75
    -32.00 (-0.24%)
     
  • Russell 2000 Futures

    2,011.70
    -5.20 (-0.26%)
     
  • Crude Oil

    91.18
    -0.91 (-0.99%)
     
  • Gold

    1,809.20
    -6.30 (-0.35%)
     
  • Silver

    20.61
    -0.08 (-0.40%)
     
  • EUR/USD

    1.0253
    -0.0004 (-0.04%)
     
  • 10-Yr Bond

    2.8490
    0.0000 (0.00%)
     
  • Vix

    19.53
    -0.67 (-3.32%)
     
  • GBP/USD

    1.2116
    -0.0022 (-0.18%)
     
  • USD/JPY

    133.1910
    -0.2890 (-0.22%)
     
  • BTC-USD

    24,834.40
    +269.00 (+1.10%)
     
  • CMC Crypto 200

    592.04
    +20.75 (+3.63%)
     
  • FTSE 100

    7,500.89
    +34.98 (+0.47%)
     
  • Nikkei 225

    28,895.24
    +348.26 (+1.22%)
     

Micron Issues Muted Sales Forecast On Demand Weakness

·3 min read
Micron Issues Muted Sales Forecast On Demand Weakness
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Memory-chip maker Micron Technology issued a subdued revenue outlook, spooking investors even as it reported a strong rise in earnings for its latest quarter. “Recently, the industry demand environment has weakened, and we are taking action to moderate our supply growth” in coming quarters, Chief Executive said in a statement, adding that he was still confident about long-term demand for memory and storage. Micron which makes data-storage and memory chips for computers and smartphones, had enjoyed a major upswing in sales and profit during the pandemic, benefiting from surging demand for electronics amid the work-from-home shift.