U.S. Stock Movement | Q4 Earnings Exceed Expectations but Fail to Impress the Market, Micron Technology (MU.US) Drops 2.9%
As of press time, the stock is down 2.9%, trading at $1,033.
According to Zhituo Finance APP, on Thursday, Micron Technology (MU.US) shares fell, down 2.9% to $1,033 at press time. The company's latest financial report failed to impress the market. Micron Technology's revenue for the fourth fiscal quarter was $54.23 billion, higher than analysts' expectations of $51.49 billion; revenue guidance for the next fiscal quarter is about $61.5 billion, exceeding analysts' expectations of $56.8 billion. Core data center business revenue reached $18.0 billion, up about 56% quarter-on-quarter and about 1,042% year-on-year, with a gross margin of 90%, making it the highest revenue-generating business unit, accounting for about one-third of total revenue.
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