Micron Technology Inc.’s  expectations for CY22 industry bit demand growth for DRAM and NAND have declined amid macro uncertainties and supply chain constraints. Therefore, it expected a challenging market environment in Q4 and Q1.
Micron expected Q4 revenue to come at or below the low end of the provided revenue guidance range.
Based on the last guidance, Micron said it expects Q4 revenue of $6.8 billion to $7.6 billion. The analyst consensus estimate was $9.05 billion.
In Q1 of 2023, bit shipments will likely decline sequentially, and Micron expected significant sequential declines in revenue and margins. It expected free cash flow to be negative in Q1….