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By Yasin Ebrahim
Investing.com – Micron (NASDAQ:) reported Tuesday fourth quarter that topped expectations, however delivered a depressing outlook on the fiscal first quarter amid ongoing provide chain points.
Micron shares misplaced 4.36% in after-hours commerce following the report.
The corporate guided fiscal Q1 EPS in a spread to $2.00 to $2.20 on income of $7.45 billion to $7.85 billion, wanting consensus estimates for $2.48 on income of $8.49 billion.
“Q1 bit shipments will decline modestly in each DRAM and NAND from very robust ranges in FQ4,” the corporate warned. “Some PC prospects are adjusting their reminiscence and storage purchases because of shortages of non-memory elements which are wanted to finish PC builds,” the corporate mentioned.
Micron introduced earnings per share of $2.42 on income of $8.27 billion. Analysts polled by Investing.com anticipated EPS of $2.33 on income of $8.22 billion.
The tight chip provide helped enhance margins to 47.3% from 34.9% a yr earlier.
Keep up-to-date on the entire upcoming earnings reviews by visiting Investing.com’s earnings calendar
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