Micron Technology had traded down almost 10% following the company’s release of its Q3’16 earnings. (Fiscal years end with August.) Though the company’s revenue and earnings were within its guided range, the Q4’16 guidance was below expectations and lowered investor confidence. While Micron expects its Q4 revenue to be slightly up, it forecasts an increase in its net loss sequentially. Most analyst estimates expected positive net earnings for fiscal year 2016, which seem highly unlikely now.

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