Today's session is marked by steep declines in the Nasdaq Index (US100), which is awaiting tomorrow's US CPI inflation reading. There was an upward bounce on 10-year yields and weak news from the largest US manufacturer of memory cards, disks, etc., Micron Technology (MU.US), which stressed that sales results could reach the lower end of previously stated forecasts. The company expects the business environment to deteriorate significantly in Q4 2022 and Q1 2023. Capital expenditures are expected to be significantly reduced in fiscal 2023 versus 2022.
The company expects revenues to be below or near the low end of the $6.8 billion-$7.6 billion range.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThe company added that it intends to take advantage of government subsidies, particularly the CHIPS and Science Act, to invest close to $40 billion by the end of the decade to expand production capacity.
Micron Technology (MU.US); (-5.2%) stock chart, D1 interval. Source: xStation 5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
