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Micron cuts capital spending in half to stem oversupply cycle, shares slip

Por: MarketWatch Business September 29, 2022

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For the fiscal first quarter, the Boise, Idaho-based chip maker said it expects between an adjusted loss of 6 cents and net income of 14 cents a share on revenue of $4 billion to $4.5 billion. Analysts had forecast 69 cents a share on revenue of $5.71 billion. Read: That huge miss was likely expected given the company last quarter was there may be pockets of oversupply in the chip market following two years of COVID-19 pandemic driven shortages.... + full article



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