Micron slumps as bleak quarterly forecast clouds AI-related boost

Quick Summary:

Micron Technology shares plummeted 15 per cent in premarket trading on Thursday following a dismal forecast that signaled a squeeze from weak demand for personal computers and smartphones, overshadowing a solid lift from sales of AI-related chips.

Global PC shipments slipped 1.3 per cent in the third quarter to 62.9 million units, according to research firm Gartner.

Micron anticipates low-single-digit percentage growth for smartphones in 2025.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaSouth Korea

Topics: Cent Smartphones Market Demand Micron Technology Company Analysts Memory Chips Biggest

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-19 @ 19:22:19 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 331 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 24548207

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