Micron’s Cut Makes a Cut

Micron The latest results of Technology Inc. containing the strange good news that they gave Wall Street the desired drop — and then some.

Memory chip manufacturer reported a sharp drop in revenue and operating income for its fiscal fourth quarter on Thursday afternoon. Revenue for the quarter ended September 1 fell 20% year-over-year to $6.6 billion — Micron’s first decline in more than two years. That is in line with the company’s warning Released in early August quote the global economy is in rapid decline sales of personal computers and smartphones, and led chip buyers in general to cut their orders to address the growing inventory problem.

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