Earnings preview: Micron Technology's expected loss per share
Micron Technology is poised to post a loss of 66 cents per share on another drop in revenue. Three months ago, sales fell 41% to just over $4 billion.
The chip industry is still suffering from distortion originating from the Covid-19 pandemic. Orders soared during 2020 and 2021 to supply a technology boom, pushing Micron and other chip makers to produce more.
Now, in the context of fears of a recession, they are left with excess inventories and are being forced to wind down their capital investment budget.
(Video Transcript)
Micron earnings
Tonight after the close of Wall Street we've got an all-session stock reporting earnings, which could be interesting. It is the chip company, Micron Technology.
It's poised to post a loss of $0.66 per share. Revenue is expected to continue declining to $3.75 billion. Three months ago, sales fell 41%, just over $4 billion. So it's on this downward trajectory.
As I say it is an all-session stock on the IG platform. You'll be able to take a tilt at this in the markets after the close. It will open at 9:00 this morning, UK time at 60.08, that's $60.08 a share.
Share price chart
Look at the pressure the stock has been under. The semiconductor industry generally still suffering from distortion originating from the Covid-19 pandemic. Orders soaring during 2020 and 2021 to supply a technology boom, pushing Micron and other chip makers to produce more.
Now, in the context of fears of a recession, they are left with excess inventories and are forced to wind down their capital investment budget. Micron Technologies reporting after the bell this evening on this Tuesday, 28th of March.
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