There may be another shoe to drop after Micron’s big outlook miss

Micron Technology Inc. delivered an outlook that fell far short of the consensus view, prompting questions about how the memory market will fare in a downturn.

The company expects August-quarter revenue of $6.8 billion to $7.6 billion, whereas analysts tracked by FactSet had been modeling $9.15 billion. Micron’s chief executive acknowledged that “the industry demand environment has weakened,” pointing to pressures in the PC and smartphone markets.

Opinion: The…

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