CORRECTION: Micron Updates Q1 Fiscal 2024 Guidance; Sees Q1 EPS $(1.07) ± $0.07 Vs $(0.99) Est.; Revenue $4.4B ± $200M (Approaching $4.7B) Vs $4.46B Est.
Portfolio Pulse from Benzinga Newsdesk
Micron Technology has updated its Q1 Fiscal 2024 guidance, expecting a Q1 EPS of $(1.07) ± $0.07, which is below the estimated $(0.99). The company also forecasts revenue of $4.4B ± $200M, which is approaching the $4.7B mark and slightly below the estimated $4.46B.
November 28, 2023 | 2:23 pm
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NEGATIVE IMPACT
Micron Technology has provided a lower than expected EPS guidance for Q1 Fiscal 2024, which may negatively impact investor sentiment and the stock price in the short term.
The revised EPS guidance from Micron is lower than analysts' estimates, which typically leads to negative investor sentiment and could result in a decrease in the stock price. The revenue forecast is also slightly below expectations, further contributing to potential downward pressure on the stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100