Micron Drops 7% After Forecast Fails to Meet Lofty Expectations
-- Micron Technology Inc., the largest US maker of computer memory chips, declined in late trading after its forecast failed to meet the sky-high expectations of some investors.YouTuberDr Disrespect Was Allegedly Kicked Off Twitch for MessagingMinor. Supreme Court Poised to Allow Emergency Abortions in Idaho. Volkswagen Invests $5 Billion in EV Startup Rivian to Form Joint Venture. FedEx Stokes Investors With Hint of a Freight Deal. Nvidia Rout Takes Breather as Traders Scour Charts for Support. Though Micron is getting a boost from the AI computing boom, demand is still sluggish in its traditional markets, such as personal computers and smartphones. Those areas are only beginning to recover from a historic slump last year.The shares fell about 8% in extended trading. Micron had rallied 67% this year before the close, lifted by investor expectations that it will be one of the main beneficiaries of AI spending.Micron competes with South Korea’s Samsung Electronics