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Micron Issues Muted Sales Forecast On Demand Weakness

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Memory-chip maker Micron Technology issued a subdued income outlook, spooking traders even because it reported a powerful rise in earnings for its newest quarter.

“Recently, the industry demand environment has weakened, and we are taking action to moderate our supply growth” in coming quarters, Chief Executive Sanjay Mehrotra mentioned in an announcement, including that he was nonetheless assured about long-term demand for reminiscence and storage.

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