Micron reports Q2 revenue of $3.69B, vs. $3.71B est., down from $7.79B YoY, and a record net loss of $2.31B due to an inventory write-down of $1.43B (Jeremy C. Owens/MarketWatch)


Micron Technology Inc. reported its largest quarterly loss on record due to an inventory write-down of more than $1.4 billion on Tuesday, but shares held up as executives suggested the memory market may be reaching a bottom.

“We now believe that customer inventories have reduced in several end markets, and we see gradually improving supply-demand balance in the months ahead,” Chief Executive Sanjay Mehrotra said in prepared remarks. “Excluding the impact of inventory write-downs, we believe our balance-sheet days of inventory…

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