Micron Slides After Warning That Operating Costs Are Growing
- Revenue outlook improves, but not as much as some had hoped
- CEO says the expenses will fall after spiking this quarter
The Micron Technology headquarters in Biose, Idaho, US.
Photographer: Jeremy Erickson/BloombergThis article is for subscribers only.
Micron Technology Inc., the largest US maker of computer memory semiconductors, suffered its worst stock decline in two months after warning that it’s spending more than expected on operations.
Adjusted operating expenses will be $990 million in the fiscal first quarter, the Boise, Idaho-based company said on Tuesday. The previous forecast was roughly $900 million. Though Micron increased its revenue outlook to $4.7 billion in the period, up from $4.6 billion, investors had been anticipating a more significant revision.