Micron Technology Inc. executives warned about a semiconductor downturn in late June, but now say that a “sharp and sudden” drop in demand exceeded even those expectations, suggesting the current chip glut could get a lot worse.
“As we look ahead, macroeconomic uncertainty is high and visibility is low,” Micron Chief Financial Officer Mark Murphy told analysts on a conference call. He forecast the company’s inventories will continue to rise further from their high levels in the first half of fiscal 2023. That is likely because Wall Street was somewhat prepared for a disappointing result from Micron. Wedbush Securities analyst Matt Bryson, for example, wrote in a note to clients on Monday: “When Micron guided FQ4 initially, it appeared as if management was assuming a worst-case scenario. In retrospect, their guide likely did not prove conservative enough.”
tpoletti Only reason this is making headlines is because everyone knows fuck eyes Pelosi was holding it.
tpoletti Russia must have used a lot
tpoletti But then why are car companies still saying there is chip shortages?
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Source: Reuters - 🏆 2. / 97 Read more »