{"id":1665152,"date":"2022-09-29T16:51:14","date_gmt":"2022-09-29T20:51:14","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1665152"},"modified":"2022-09-29T16:51:52","modified_gmt":"2022-09-29T20:51:52","slug":"micron-forecasts-q1-revenue-below-estimates-as-demand-worsens","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/micron-forecasts-q1-revenue-below-estimates-as-demand-worsens\/","title":{"rendered":"Micron forecasts Q1 revenue below estimates as demand worsens"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmicron-forecasts-q1-revenue-below-estimates-as-demand-worsens%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1665152&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Chavi Mehta and Jane Lanhee Lee<\/p>\n<p>(Reuters) -Memory chipmaker Micron Technology forecast first-quarter revenue below Wall Street estimates on Thursday as demand from its key end markets including PCs and smartphones worsen amid rising worries about an economic downturn.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>To cope with the tougher market conditions, Micron also said it would cut its investments.<\/p>\n<p>\u201cWe are taking decisive steps to reduce our supply growth including a nearly 50% wafer fab equipment capex cut versus last year,\u201d said Chief Executive Sanjay Mehrotra in its earnings statement.<\/p>\n<p>Shares of the Boise, Idaho-based company, which have roughly declined 45% so far this year on fears of a further slowdown in demand for semiconductors, fell 2.4% in extended trading. Chip equipment maker Applied Materials Inc  also dropped 2% in after hours on the news.<\/p>\n<p>Micron was the first to sound a severe warning bell for the entire semiconductor industry during its third quarter earnings report late June.<\/p>\n<p>Since then, the situation has only worsened with the weakness seeping from consumer electronics to end markets such as data centers and cloud as a global economic slowdown caused by red-hot inflation, rising interest rates, geopolitical tensions and COVID-19 lockdowns in China has led businesses and consumers alike to rein in expenses.<\/p>\n<p>Spiraling demand had led to inventory build ups, which in turn has forced companies to drive down the prices of chips. Research firm TrendForce forecast a 13% to 18% drop in DRAM chips pricing, which makes over 70% of Micron\u2019s revenue, while also forecasting a 15% to 20% drop in NAND memory pricing for the last three months of 2022. <\/p>\n<p>The company forecast adjusted current-quarter revenue to be $4.25 billion, plus or minus $250 million. Analysts on average expected revenue to be $5.62 billion, according Refinitiv data.<\/p>\n<p>Adjusted revenue for the quarter ended Sept. 1 was $6.64 billion. Analysts on average expected revenue to be $6.68 billion.<\/p>\n<p> (Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee; Editing by Krishna Chandra Eluri and Marguerita Choy)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/micron-forecasts-q1-revenue\/attachment\/file-photo-the-logo-of-u-s-memory-chip-maker-microntechnology\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8S15W-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8S15W-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Chavi Mehta and Jane Lanhee Lee (Reuters) -Memory chipmaker Micron Technology forecast first-quarter revenue below Wall Street estimates on Thursday as demand from its key end markets including PCs<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1665152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1665152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1665152"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1665152\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1665152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1665152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1665152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}