Article author:
Reuters
Memory chip maker Micron Technology said free cash flow is expected to be negative in the first quarter and lower shipments could significantly reduce revenue and profit margins during this period. ..
The company also said that quarterly sales could fall below the lower end of June's previous forecast, further showing that demand from the PC and gaming industry is weakening. I am.
Other chip makers such as Intel, Advanced Micro Devices, Nvidia Corp, and storage company Western Digital have warned that uptake from PC makers will slow as inflation demands.
Micron forecasts adjusted revenue of $ 7.2 billion, plus or minus $ 400 million, for the quarter. [nL4N2YH3MA]
Micron's Chief Financial Officer, Mark Murphy, will speak at the KeyBanc Technology Leadership Forum on Tuesday about the company's revised forecasts.
In the previous deal at Bell, the company's stock fell by more than 3%. (Report by Chavi Mehta in Bangalore, edited by Anil D'Silva)
