Micron’s Stock Drops Most in 6 Months as Deals Yet to Pay Off
- U.S. company reporting losses, cutting jobs in tough market
- Samsung still has scale, spending advantage over Micron
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Micron Technology Inc. stock fell the most since January after reporting a loss and predicting another one this quarter, indicating its attempt to bring order to the brutal memory chip business by buying out rivals hasn’t yet succeeded.
The U.S.’s largest maker of the semiconductors that provide the short-term memory in computers and phones on Thursday also predicted revenue that may fall short of analyst estimates. Demand isn’t strong enough to account for industrywide output forcing prices of some chips below the cost of production.