Lower demand for chips means that those companies in the chips business are taking a hit. The chip maker says it plans to invest forty billion dollars over the next eight years to manufacture ships here in the us. Shares of micron are down about five % because the company also lowered guidance, said it expects negative free cash flow in the current quarter. Think crypto mining has a much bigger part playing in ina, the weakness that they are seeing.
Chips, and the companies that make and use them, dominate the business news. (0:25) Bill Mann discusses: - Micron Technology cutting guidance while also announcing a $40 billion investment in the U.S. - How Micron's current picture is similar to Nvidia's - Take-Two Interactive continuing its rough year by lowering guidance - Allbirds shares falling 23% as the young company learns some harsh lessons about business and growth (13:57) Alison Southwick and Robert Brokamp look to "The Great Resignation" to find examples of what job-seekers should consider if they think we're heading for a recession. Stocks mentioned: MU, NVDA, TTWO, BIRD, MCD, WMT Host: Chris Hill Guest: Bill Mann, Alison Southwick, Robert Brokamp Producer: Ricky Mulvey Engineers: Dan Boyd, Rick Engdahl
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