Micron Stock Surges Despite Sales Drop and Inventory Issues.
TL;DR Summary
Micron Technology's sales for Q2 2023 fell by 53%, but the stock is up as the results were in line with expectations. The company plans to reduce staff by 15% as part of its cost-reduction program. The weak market for PCs and smartphones continues to weigh on the company's results, but there are some promising signs for the memory chip maker.
- Micron Sales Were Cut in Half. Why the Stock Is Jumping. Barron's
- MU Stock: Micron Misses Quarterly Targets | Investor's Business Daily Investor's Business Daily
- Micron writing down older excess inventories in recent quarter, says Needham's Rajvindra Gill CNBC Television
- Micron just released an objectively horrible earnings report. Why is the stock not falling? MarketWatch
- Micron reports largest loss on record, but stock gains as execs say inventory issues have peaked MarketWatch
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