Is Micron Technology Stock a Buy Now?
Micron Technology (NASDAQ: MU) posted a messy earnings report on Sept. 29. For the fourth quarter of fiscal 2022, which ended on Sept. 1, the memory chipmaker's revenue fell 20% year-over-year to $6.64 billion, missing analysts' estimates by $140 million and ending its nine-quarter streak of revenue growth. Its adjusted net income declined 42% to $1.62 billion, or $1.45 per share, but still cleared the consensus forecast by eight cents.
For the first quarter of fiscal 2023, Micron expects its revenue and adjusted EPS to tumble about 45% and 98% year-over-year, respectively. Analysts had only expected its revenue and earnings to decline 26% and 67%, respectively.
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Source Fool.com
