Micron Stock Slides on Reduced Fourth-Quarter Revenue Forecast

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Micron Technology

shares fell Tuesday after the chip company said it was reducing its guidance for fourth-quarter revenue.

Micron said in a filing that it expects revenue in the period “may come in at or below the low end of the revenue guidance range” the company provided during its earnings call in late June. At the time, Micron said it expects revenue of $6.8 billion to $7.6 billion.