Micron Stock Falls After Chip Maker Warns of Weakening Demand, Lower Sales
Micron Technology Inc. said revenue could slide lower than previously expected in the current quarter as demand for computer memory chips continues to weaken.
The company said in a regulatory filing Tuesday that expectations for industry bit-demand growth for dynamic random-access memory chips and NAND flash memory chips have softened since it last provided guidance. It expects challenging conditions for the next two quarters.
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Expected Major Events for Wednesday
04:30/NED: Jun Manufacturing output
05:00/FIN: Jun Industrial Production
06:00/SWE: Jun New orders & deliveries in industry
06:00/SWE: Jun Industrial Production Index
06:00/NOR: Jul CPI
06:00/NOR: Jul PPI
06:00/DEN: Jul CPI
06:00/GER: Jul CPI
07:00/SVK: Jun Industrial production
07:00/SVK: Jun Construction production
07:00/TUR: Jun Employment / Unemployment
07:00/CZE: Jul CPI
07:00/CZE: Jun Import & export price indices
07:00/AUT: Jun Production Index
08:00/BUL: Jun Industrial Production
08:00/ITA: Jul CPI
08:00/EU: Jul Long term interest rates statistics
08:00/BUL: May Trade with EU Member States - preliminary data
08:00/BUL: Jun Trade with third countries - preliminary data
09:00/GRE: Jun Industrial Production Index
09:00/MLT: Jun Industrial Production Index
09:00/LUX: Jun Industrial Production
09:00/GRE: Jun Labour Force Survey
10:00/POR: 2Q Employment statistics
10:00/POR: Jul CPI
15:59/UKR: Jul CPI
15:59/UKR: Jul PPI
23:01/UK: Jul RICS Residential Market Survey
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(END) Dow Jones Newswires
08-10-22 0030ET
