Inventory Write Downs

Micron Technology's Earnings Report Disappoints Investors Despite Inventory Write-Downs.

Micron Technology reported Q2 revenue of $3.69B, missing estimates by $20M, and non-GAAP EPS of -$1.91, missing estimates by $1.03. The company also reported inventory write-downs of $1.43 billion, impacting $1.34 per diluted share. Despite the challenging market environment, Micron remains confident in long-term demand and is investing prudently to preserve its technology and product portfolio competitiveness. The company's Q3 outlook includes revenue of $3.70 billion ± $200 million and EPS of -$1.58 ± $0.07.