Micron: stocks fall after the forecast for the sector of smartphones and computers
Matthew Benson
09 / July / 22
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The American giant warned that revenue would be $7.2 billion, well below the $9.14 billion estimated by consensus.
Excluding some extraordinary balance sheet items, earnings per share will also be only $1.63, which is much lower than the $2.57 expected by analysts.
The prospects for Micron Technology contribute to concerns about the risk of a sharp slowdown in two key sectors of Micron memory chips: the computer industry and the smartphone industry.
Bloomberg notes that consumers and companies are slowing down the pace of their spending and investment, respectively, fearing the onset of a recession in the world's leading economies.
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