Micron's Stock Rises Despite Largest Loss on Record and Revenue Drop in Line with Wall Street View.
Micron Technology reports its largest quarterly loss on record due to an inventory write-down of more than $1.4 billion, but executives suggest a turnaround is ahead, especially in the key data-center market. CEO Sanjay Mehrotra said that inventory issues have peaked and the company is close to a transition to sequential revenue growth in its quarterly results. Despite the loss, shares held up as the memory market may be reaching a bottom and the supply-demand balance is expected to improve in the coming months.