Micron forecasts fourth-quarter revenue below expectations

Micron Technology forecast fourth-quarter revenue below market estimates on Thursday, a sign that geopolitical turmoil and weakness in consumer spending would weigh on demand for its memory chips.

The company forecast adjusted revenue for the current quarter to be $7.2 billion, plus or minus $400 million. Analysts on average expected a figure of $9.05 billion, according to Refinitiv IBES data.