Micron Technology Inc. Shares Plummet on Weak Q2 Guidance

Shares of Micron Technology Inc. experienced a significant decline of nearly 15% during premarket trading on Thursday, following the company's underwhelming guidance for the second quarter of its fiscal 2025.

The chipmaker anticipates revenue to reach $7.9 billion in the upcoming trimester, falling short of analysts' expectations of $8.98 billion. Furthermore, Micron predicts its diluted earnings per share to be $1.43, which is notably lower than the anticipated $1.91.

By 6:58 am ET, Micron's stock had dropped 14.94%, trading at $88.37 per share, reflecting investors' disappointment with the company's future performance outlook.