3rdPartyFeeds News

Earnings Results: Micron reports largest loss on record as memory-chip market melts down, but stock gains as execs say inventory issues have peaked

Micron reported its largest quarterly loss on record Tuesday, but shares held up as executives suggested the memory-chip market may be reaching a bottom. Read More...

Micron Technology Inc. reported its largest quarterly loss on record due to an inventory write-down of more than $1.4 billion on Tuesday, but shares held up as executives suggested the memory market may be reaching a bottom.

“We now believe that customer inventories have reduced in several end markets, and we see gradually improving supply-demand balance in the months ahead,” Chief Executive Sanjay Mehrotra said in prepared remarks. “Excluding the impact of inventory write-downs, we believe our balance-sheet days of inventory…

Read More