Why Micron Technology Stock Is Falling Today
Shares of Micron Technology (NASDAQ: MU) were sliding this morning after the company reported its third-quarter results. The company beat analysts' consensus earnings and revenue estimates for the quarter, but the company's guidance for the upcoming quarter disappointed investors.
As a result, the tech stock was down by 5% at 12:20 p.m. ET.
Micron reported non-GAAP (adjusted) earnings of $2.59 in the quarter, which beat Wall Street's consensus estimate of $2.44 per share. Additionally, the tech company's sales of $8.64 billion were up 16% from a year ago and just inched past analysts' average estimate of $8.63 billion.
Source Fool.com
