Bloomberg Businessweek Micron Falls Most in Four Years on Sluggish Sales Outlook
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Dec 19, 2024 Eric Hansotia, CEO of AGCO, shares insights on the agricultural economy and the company's financial outlook amid global trade dynamics and technological advancements. Silvio Tavares, CEO of VantageScore, analyzes consumer credit health, detailing the effects of Fed policies on credit behavior and trends amid inflation. They discuss challenges in agriculture and how AI investments depend on quality data, emphasizing market volatility and the need for innovative strategies and proactive measures to navigate the evolving landscape.
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Micron's Stock Drop
- Micron Technology experienced its worst stock decline in four years due to lower-than-projected revenue.
- This downturn is attributed to an inventory correction in the PC and smartphone market, not solely decreased demand.
Micron's Data Center Growth
- Micron saw substantial growth in data center-related demand, particularly for AI applications.
- However, the overall concern lies in the duration and extent of the inventory surplus.
Intel's Altera Sale
- Intel is looking to sell its Altera unit to unlock value and generate needed cash.
- This unit, focused on data centers, has higher profit margins than Intel's PC and data center businesses.