After Nvidia, Micron warns on Q4 sales due to macroeconomic factors and supply chain constraints

Due to macroeconomic factors and supply chain constraints, Micron (NASDAQ:MU) expects a challenging market environment in FQ4 22 and FQ1 23.

The company expects FQ4 revenue to come in at or below the low end of the revenue guidance range of $6.8B and $7.6B provided in June 30 earnings call.

In FQ1, bit shipments are now expected to decline sequentially, and the company expects significant sequential declines in revenue and margins.

Free cash flow to be negative in FQ1.

The company sees FY23 total capex to be down meaningfully vs. FY22.
MU stock down 4% PM.