Micron shares plunge on weak revenue forecast
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Micron Technology Inc's shares dropped 16% after the company forecasted second-quarter revenue significantly below analysts' expectations, predicting $7.7 billion to $8.1 billion compared to the expected $9 billion.
December 18, 2024 | 9:45 pm
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Micron Technology's shares fell 16% due to a disappointing revenue forecast for the second quarter, predicting $7.7 billion to $8.1 billion, which is nearly $1 billion below analysts' expectations.
The significant drop in Micron's share price is directly linked to the company's revenue forecast falling short of expectations by nearly $1 billion. This indicates potential challenges in the company's performance, leading to negative investor sentiment.
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