Is Micron Technology Stock a Buy Now?
Micron Technology (NASDAQ: MU) posted its third-quarter earnings report on June 30. The memory chipmaker's revenue rose 16% year over year to $8.64 billion, which matched analysts' expectations. Its adjusted net income increased 35% to $2.94 billion, or $2.59 per share, which also cleared the consensus forecast by $0.15.
Micron's growth rates were stable, but its guidance was grim. For the fourth quarter, it expects its revenue to decline 13% year over year and its adjusted earnings per share (EPS) to tumble 33%. Analysts had expected its revenue and adjusted EPS to increase 10% and 7%, respectively.
Image source: Getty Images.
Source Fool.com
