Cloudy Days Ahead for Micron Technology as Coronavirus May Dent Recovery
Micron Technology (NASDAQ: MU) is expected to release its fiscal 2020 second-quarter results on Tuesday, March 24, and the numbers aren't going to be pretty. The chipmaker has been struggling as a result of an oversupply in the memory industry as demand diminished last year. Investors can expect to see the impact of that downturn on Micron's upcoming results, but their eyes will be fixed somewhere else: the guidance.
When Micron released its first-quarter results in December last year, management said that it was expecting to hit a bottom in the second quarter of 2020. Now, it remains to be seen if the company actually arrived at the bottom that it was anticipating. Business conditions around the globe have been deteriorating in light of the COVID-19 outbreak, and Micron could fall prey to the same.
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Source Fool.com
