After hours today, Micron Technology reported a 42.3% decline in 4th quarter revenue. Placing the blame on the trade war with China, they found orders for memory chips declined significantly.
Plunge In Revenue and Earnings
Revenue fell to $4.87 billion from $8.44 billion for the same quarter last year. Net income fell to $561 million. This is 49 cents a share versus $3.56 a share a year earlier. Net income last year was $4.33 billion.
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Micron Technology Reports 42% Plunge In 4th Quarter Revenue After Hours – Sep 26 2019
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