Micron's 'stumbling block' could be its Q4 revenue guidance
Micron Technology's (MU) fiscal third-quarter earnings results topped estimates, reporting adjusted earnings of $0.62 per share (expected $0.50 per share) and $6.81 billion in revenue (expected $6.67 billion) after the market close on Wednesday. While closing just a pinch higher in Wednesday's regular trading hours, Micron shares are dropping in after-hours trading.
Synovus Trust Senior Portfolio Manager Dan Morgan comes onto Market Domination Overtime to comment on the chip company's guidance while it's now being considered a top AI play. Micron's stock has currently swung higher by over 72% in 2024 year-to-date.
"It looks like the stumbling block right now.... was that revenue number $7.6 billion plus-or-minus $200,000, that's exactly what the Street was looking for," Morgan tells Yahoo Finance. "I was looking over kind of what the expectations were, and the motto really seemed to be 'beat on the third quarter and raise on the fourth quarter.' And the fact that they didn't raise that revenue number and they came in line, I think that... is why we're seeing the stock sell off a little bit."
For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.
This post was written by Luke Carberry Mogan.
相關影片推薦
- 1:53消失市場125年 莫內《睡蓮》之一首度拍賣 估價11億元創紀錄Yahoo奇摩(國際通)19,263 次觀看・17 小時前
- 1:45深圳日本人學校男童遇襲 市民稱是「長期仇恨教育下的惡果」BBC NEWS 中文9,911 次觀看・13 小時前
- 1:36貴到能買房! "長在樹上的鹿"獨特多變受市場喜愛民視影音22,808 次觀看・1 個月前
- 0:55擺脫現役選手最悲情紀錄!大谷里程碑背後還有「這件事」沒做過民視影音15,677 次觀看・14 小時前
- 1:23海巡無人機驚見"白衣女" 半身入海不停哭泣民視影音37,209 次觀看・13 小時前
- 1:42咖啡店追劇兼充電 女子不付低消.警以「竊盜現行犯」帶回華視影音88,124 次觀看・18 小時前
- 1:35日本研發「巨大機器人」修繕鐵路 可舉40公斤重物達10公尺高 防止工人觸電、墜落風險Yahoo奇摩(國際通)16,541 次觀看・17 小時前
- 2:50日男童918深圳遭殺害 民眾校外獻花、高呼反仇恨教育 日相岸田文雄批卑劣Yahoo奇摩(國際通)59,114 次觀看・19 小時前
- 2:20生食非洲大蝸牛! 昔「金蘭醬油第二代」一家5口喪命華視影音593,434 次觀看・2 天前
- 1:10「九天玄女降肉」被抄襲了! 中國網紅照抄經典台詞釣出本人:實在很哭娛樂星聞14,099 次觀看・3 天前