From CNBC: 2024-12-19 12:21:29

Micron CEO Sanjay Mehrotra spoke at the Milton J. Rubenstein Museum in Syracuse, New York, ahead of President Joe Biden’s remarks on the CHIPS and Science Act and the Investing in America agenda. Micron shares dropped 16% after issuing disappointing second-quarter guidance, with revenue expected at $7.9 billion and adjusted EPS at $1.43. Revenue for the first quarter was $8.71 billion, driven by a 400% increase in data center revenue due to demand for AI. Analysts at Stifel maintained their buy rating but lowered the price target to $130.



Read more at CNBC:: Micron headed for worst day since 2020 after disappointing guidance