Micron Technology Beats Q3 Estimates, Q4 Guidance Disappoints, Shares Drop Over 9% After Hours
$Micron Technology(MU.US$ reiterated its strong pricing power and plans to continue raising prices in 2024. High-bandwidth memory chips for AI servers are sold out through 2025, but the company will significantly increase capital expenditures next year amid uncertain industry and retail demand, acknowledging that the smartphone and PC markets remain weak.
Analysts commented that merely meeting market expectations for Q4 guidance is insufficient, given Wall Street's high expectations for AI-related business before the earnings report.
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104377867 : Earning estimates mostly come from analyst lol. Analyst gave estimate and MU says we will meet it, but now analyst not happy. Funny.
High Profit Low Loss 104377867: True, it depends on their mood. The end results is based on their upper-hands.