Micron falls on conservative gross margin forecast

Micron Technology shares MU.O fall 3.3% premarket

The memory chips maker forecast Q3 gross marigns of 36.5% vs analysts' estimates of 36.9% -LSEG data

The outlook is probably viewed with some disappointment, said Brian Chin, analyst at Equity Research

Citi says "Gross margins could peak below previous upturns given the lack of margin expansion"

Citi, Rosenblatt and JPM cut PTs on the stock

In 2024, the company's shares fell 1.4%