BUZZ-Micron falls on conservative gross margin forecast

Reuters
03-21
BUZZ-Micron falls on conservative gross margin forecast

** Micron Technology shares MU.O fall 3.3% premarket

** The memory chips maker forecast Q3 gross marigns of 36.5% vs analysts' estimates of 36.9% -LSEG data

** The outlook is probably viewed with some disappointment, said Brian Chin, analyst at Equity Research

** Citi says "Gross margins could peak below previous upturns given the lack of margin expansion"

** Citi, Rosenblatt and JPM cut PTs on the stock

** In 2024, the company's shares fell 1.4%

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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