Micron Technology (MU.US) Shares Drop 2.9% as Strong Q4 Results Fail to Impress Market
Stock News
Yesterday
On Thursday, shares of Micron Technology (MU.US) moved lower, falling 2.9% to $1,033 at the time of writing, as the company's latest earnings report failed to win over the market.
The company reported fourth-quarter revenue of $54.23 billion, beating analysts' expectations of $51.49 billion. Its revenue guidance for the next fiscal quarter came in at approximately $61.5 billion, also above the $56.8 billion analysts had forecast.
Its core data center business generated revenue of $18.0 billion, up about 56% quarter over quarter and roughly 1,042% year over year. With a gross margin of 90%, it was the highest-revenue business unit, accounting for about one-third of total revenue.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.