Micron Q1: Riddled With A Challenging Outlook (Rating Downgrade)
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Micron Technology, Inc. faces a challenging outlook as the NAND market, which constitutes 26% of its revenues, experiences volume and pricing headwinds. This has led to a downgrade in fiscal Q2 FY25 revenue and gross margin guidance, with expectations of continued weakness for several quarters.
December 19, 2024 | 6:45 pm
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Micron Technology's fiscal Q2 FY25 revenue and gross margin guidance have been downgraded due to a weak NAND market, which is expected to remain challenging for several quarters.
The NAND market, a significant part of Micron's revenue, is facing volume and pricing challenges, leading to a downgrade in revenue and margin guidance. This is likely to negatively impact Micron's stock price in the short term.
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