Trading Micron Technologies shares on its Q4 earnings
The chip maker is scheduled to report fiscal fourth quarter (Q4) earnings after the close this evening. For the past few quarters, it’s gone through difficult times.
Demand has drastically dropped after the pandemic-fuelled frenzy, and elevated inventories have put pressure on margins. Revenue is forecast to fall for a fifth quarter in a row, by 41% to $3.89 billion. Micron is seen posting a loss for the past three months, the fourth in as many quarters, this time of $1.18. But has the company turned a corner? CEO, Sanjay Mehrotra, has called the bottom in the memory-chip market. Even though Micron shares are far from their early 2022 high, the stock has been rising since the start of this year.
Micron Technologie Q4 earnings
Micron Technologies, a company that makes computer chips, is about to announce its earnings for the last quarter. They have been facing challenges lately, as there has been a decrease in demand for their chips and they have too many of them in stock. This has put pressure on their profits.
It is expected that their revenue will decline for the fifth time in a row, by a whopping 41%, to $3.89 billion. They are also projected to make a loss for the third quarter in a row, with a predicted loss of $1.18 per share. Experts don't think they will start making a profit again until next year.
Sanjay Malhotra
Many people are curious to know if Micron has turned things around. The company's CEO, Sanjay Malhotra, thinks that the memory chip market has hit rock bottom and will start to improve. Analysts who follow the company seem to agree. In fact, Deutsche Bank recently upgraded Micron's stock rating to a buy, because they believe that the prices of the chips are getting better and that the expansion of artificial intelligence will help Micron's business.
Micron stock price
The stock price of Micron has been slowly going up, thanks to positive news like the fact that NVIDIA has decided to use Micron's chips in their data centers. Although the stock is not as high as it was at the beginning of the year, it has been steadily rising. If you are interested in trading Micron's stock, it's good to know that you can do it on the tastylive platform, even outside of regular trading hours. After the earnings report is released tonight, you will have the chance to react to the news and make trades based on the latest information.
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