PC market woes are what’s really hammering Micron
The gnarly, high-volume selloff in Boise-based chipmaker Micron continued on Thursday, after the firm issued a much weaker than expected forecast on Wednesday as part of its earnings report.
Much of the firm’s current struggles are related to the slowdown in PC sales that recently spotlighted in earnings from HP and Dell.
Micron makes something called NAND flash memory chips, that are used to store memory in devices like personal computers and phones. And the company has a long history of being whipsawed by swings in demand for such products. As the company’s CFO Mark Murphy told analysts Wednesday:
The NAND industry market conditions were weaker than we had expected and that consumer market, PC, smartphones demand is weaker and inventory adjustments are occurring.
The company sees better days ahead in the second half of the coming year, driven in an uptick in adoption for AI-enabled PCs. But the market doesn’t seem to share that optimism, at least today.
The NAND industry market conditions were weaker than we had expected and that consumer market, PC, smartphones demand is weaker and inventory adjustments are occurring.
The company sees better days ahead in the second half of the coming year, driven in an uptick in adoption for AI-enabled PCs. But the market doesn’t seem to share that optimism, at least today.
