(Bloomberg) -- Micron Technology Inc., the largest US maker of computer memory chips, gave a weak sales forecast for the current quarter, hurt by sluggish demand for smartphones and personal computers.
Fiscal second-quarter revenue will be roughly $7.9 billion, the company said in a statement Wednesday. That compares with an average analyst estimate of $8.99 billion. Profit will be $1.53 a share at most, minus certain items, well short of the $1.92 projection.
Though Micron is seeing strong orders for components used in artificial intelligence computing, it still faces lackluster demand from makers of phones and PCs — two markets that consume the majority of its chip volume.
Micron shares, up 22% this year through Wednesday’s close, tumbled 17% in extended trading following the announcement.
“While consumer-oriented markets are weaker in the near term, we anticipate a return to growth in the second half of our fiscal year,” Chief Executive Officer Sanjay Mehrotra said in the statement.
©2024 Bloomberg L.P.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。