Micron: raising targets snubbed on the stock market

(CercleFinance.com) – Micron Technology fell sharply this Tuesday on Wall Street, the market not being impressed by the increase in targets announced in the morning by the American group.

Around 11:00 a.m. (New York time), the title of the memory and storage chip manufacturer dropped more than 4%, accusing one of the sharpest declines in the S&P 500, even if the title remained up almost 50%. % This year.

The Boise (Idaho) group announced this morning an upward revision of its forecasts for the fourth fiscal year, which will close on November 30, due to an improvement in its supply chain, demand and its price.

Micron now says it expects quarterly turnover of around $4.7 billion, give or take $200 million, compared to a previous estimate of around $4.4 billion.

Its gross margin excluding exceptional items (non-GAAP) should come out around balance, within two percentage points, compared to a previous negative estimate of -4%.

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