Key Points
Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015..
Sept 28 (Reuters) - Micron Technology's (MU.O) first-quarter loss forecast has triggered concerns of a sluggish recovery in the memory chip maker's end-markets such as data centers, sending its shares down about 5% in premarket trading on Thursday...
The company on Wednesday forecast a bigger loss than analysts had expected and a return to positive gross margin in the second half of fiscal 2024, later than Wall Street expectations for the first half...
Micron has been under-utilizing its production capacity to match supply with a slump in demand for memory chips that started last year, but analysts have said excess inventory appears to have cleared in most of its end-markets such as smartphones and personal computers...
Still, analysts were hopeful that the artificial intelligence (AI) boom should boost overall prospects for the company, which expects "several hundred million" dollars worth of revenue from its new high-bandwidth chips, meant for AI work, next year...
