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Micron Earnings Are Key as Apple News Points to Slowdown

  • Earnings from chipmaker to provide gauge of consumer demand
  • Stock price, estimate revisions show market still pessimistic
Micron Double-Data-Rate Synchronous Random-Access Memory

Micron Double-Data-Rate Synchronous Random-Access Memory

Photographer: Tomohiro Ohsumi/Bloomberg

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Micron Technology Inc. shocked investors last month by warning that rapidly slipping demand for computers would curb sales of its memory chips. On the eve of the holiday shopping season, analysts fear that business has only worsened.

Thursday’s earnings from Micron will show how bad the damage is from inflation eating into consumer budgets and cooling sales of consumer gadgets as the year’s biggest quarter kicks off. The signs aren’t good: Apple Inc. is backing off plans to increase output of its new iPhones after an anticipated surge in demand failed to materialize, people familiar with the matter said.