Micron Stock Tumbles After Earnings Beat. What’s Driving the Fall.

Micron Technology stock sank 17% in early trading Thursday after the semiconductor company issued disappointing guidance for its current quarter. Micron’s outlook was weak, though, missing quarterly revenue estimates by $1 billion. “While consumer-oriented markets are weaker in the near term, we anticipate a return to growth in the second half of our fiscal year,” Micron CEO Sanjay Mehrotra said in a news release.

OK