Memory chip maker Micron reported lower fiscal first-quarter revenue, which dropped by nearly half to $4.09 billion as prices fall for both main types of memory, DRAM and NAND. MU reported a worse than expected net loss of $195 million for the quarter after the bell Wednesday. Revenue, margins and earnings were hit further by lower memory prices and industry oversupply that are driving the chipmaker’s grim outlook. Micron earnings have been drastically hurt by China weakness which is 30% … Continue reading “Micron Lowers Guidance with Severe DRAM and NAND Supply and Demand Imbalance”
Zoom Video Operating Expenses Surge, Guides Lower
Leading video conferencing software company Zoom Video Communications reported worse than expected fiscal third-quarter revenue Tuesday. $ZM also lowered guidance which sent the shares sharply lower by more than 10% in after-hours trading. For perspective prior to Monday’s earning’s report, Zoom shares had lost about 90% of their value since peaking in October 2020. The stock has fallen since the stay-at-home market reverted, the aborted Five9 transaction and the collapse of the manic tech bubble. Zoom Video Communications Inc NASDAQ: … Continue reading “Zoom Video Operating Expenses Surge, Guides Lower”
Micron Lowers Guidance as DRAM on NAND Chip Sales Persist in Down Cycle
Memory chip maker Micron report lower fiscal fourth-quarter revenue and warned for the next quarter after the bell Thursday. $MU beat with Adj EPS of $1.45 over expected $1.37 but revenue of $6.64Bil missed exp $6.80Bil. The chipmaker sees Q1 Adj Revenue of $4B To $4.5B down from exp $6.02B. This comes after MU Recently warned revenue may come in at or below the low end of the revenue guidance range. Revenue, margins and earnings were hit further by lower … Continue reading “Micron Lowers Guidance as DRAM on NAND Chip Sales Persist in Down Cycle”
Micron Downside Risks on DRAM on NAND Chip Sales Persist
Memory chip maker Micron is set to report fiscal fourth-quarter results after the bell Thursday. Recently $MU warned revenue may come in at or below the low end of the revenue guidance range. Revenue, margins and earnings may be hit further by lower memory prices and industry oversupply that are driving the chipmaker’s grim outlook. Both Mizuho and Wells Fargo analysts downgraded Micron last week. Micron earnings have been drastically hurt by China weakness which is 30% of the company’s … Continue reading “Micron Downside Risks on DRAM on NAND Chip Sales Persist”
Zoom Video Growth Impacted by Strong US Dollar
Leading video conferencing software company Zoom Video Communications reported worse than expected fiscal second-quarter revenue Monday. $ZM also lowered guidance which sent the shares sharply lower by more than 8% in after-hours trading. For perspective prior to Monday’s earning’s report, Zoom shares had lost about 85% of their value since peaking in October 2020. The stock has fallen since the stay-at-home market reverted, the aborted Five9 transaction and the collapse of the manic tech bubble. Zoom Video Communications Inc NASDAQ: … Continue reading “Zoom Video Growth Impacted by Strong US Dollar”
Micron Following NVidia Guides Lower Again on Weakness from China, Smartphones and PCs
Memory chip maker Micron closed down at 59.15 ▼ 2.30 (-3.74%) after it warned Q4 revenue may come in at or below the low end of the revenue guidance range. $MU announced also a $40 billion investment in leading-edge memory manufacturing in the US as the US approved the CHIPS Act. This latest warning comes just over a month after the company reported earnings that were drastically hurt by China weakness which is 30% of the company’s revenue. The warnings comes just … Continue reading “Micron Following NVidia Guides Lower Again on Weakness from China, Smartphones and PCs”
Micron Guides Lower on Weakness from China, Smartphones and PCs
Memory chip maker Micron reported earnings after the close Thursday and as expected they were drastically hurt by China weakness which is 30% of the company’s revenue. MU reported inline Q3 results and as expected guided Q4 lower, revenue by 20% and EPS by 38%. Weakness in smartphones/PCs also hurt. Strength again came from hyperscalers demand in the datacenter. Caution here with inventories above pre-COVID levels, which creates more uncertainty. These results will have a strong bearing on others in … Continue reading “Micron Guides Lower on Weakness from China, Smartphones and PCs”
Zoom Video Raises Earnings Guidance as it Adjusts to Lower Stay at Home Demand and Inflation
Leading video conferencing software company Zoom Video Communications reported better than expected fiscal first-quarter earnings Monday. $ZM also gave positive guidance which sent the shares sharply higher by more than 19% in after-hours trading. For perspective prior to Monday’s earning’s report, Zoom shares had lost about 85% of their value since peaking in October 2020. The stock has fallen since the stay at home market reverted, the aborted Five9 transaction and the collapse of the manic tech bubble. Zoom Video … Continue reading “Zoom Video Raises Earnings Guidance as it Adjusts to Lower Stay at Home Demand and Inflation”
Impact of Omicron Variant Spikes Initial Jobless Claims to Highest Level Since October
Initial jobless claims spiked higher this week by 55,000 to 286,000 depicting the negative impact the Omicron variant is having on an already tight labor market. The four-week moving average for initial claims increased by 20,000 to 231,000, up from at 199,250, the lowest it had been since October 25, 1969, which reflected the tightness of the labor market before Omicron. Americans filing for unemployment benefits had fallen to the lowest level of initial claims in 52 years. The BLS … Continue reading “Impact of Omicron Variant Spikes Initial Jobless Claims to Highest Level Since October”
52 Year Low Initial Jobless Claims Underscores the Tightness of US Labor Market
Initial jobless claims continue to fall. The four-week moving average for initial claims at 199,250 is the lowest it has been since October 25, 1969, which reflects the tightness of the labor market. Americans filing for unemployment benefits fell to the lowest level of initial claims in 52 years. The labor market continues to recover from the coronavirus economic burdens. Demand for workers remains strong as the economy rebounds. US initial jobless claims and continuing claims for current week Initial … Continue reading “52 Year Low Initial Jobless Claims Underscores the Tightness of US Labor Market”